When are the interest and other fees due on the Series 2018-1 Variable Funding Notes for Hardees?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
the borrowing capacity from $70,000 to $125,000 and to extend the maturity date to March 2029, including options for renewal for two additional twelve-month terms (subject to certain conditions, including a minimum debt service coverage ratio). The Series 2018-1 Variable Funding Notes bear interest at a variable interest rate equal to (a) a commercial paper r
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the interest and other fees on the Series 2018-1 Variable Funding Notes are due quarterly. These payments are made in arrears, meaning they cover the previous quarter's charges.
Specifically, Hardees is required to make these payments on the 20th day of March, June, September, and December each year. This schedule provides a consistent and predictable payment timeline for Hardees related to these notes.
As of January 31, 2025, the co-issuers had zero outstanding loan borrowings, $24,245 of outstanding letters of credit, and remaining availability of $100,755 under the Series 2018-1 Variable Funding Notes.