What was the total interest expense for Hardees in the financial period ending in 2022?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
ns are not satisfied or complied with, the Senior Notes are subject to accelerated repayment events and events of default. Although management does not anticipate an event of default, if any such event occurred and was not cured within any applicable cure period, the unpaid amounts outstanding could become immediately due and payable.
Refinancing Transaction
In April 2024, the Co-Issuers completed a refinancing transaction (the "Series 2024-1 Refinancing") under which the Co-Issuers issued the Series 2024-1 Class A-2 Notes. A portion of the net proceeds from the sale of the Series 2024-1 Class A-2 Notes were used to repay in full the Co-Issuer's outstanding Series 2018-1 Class A-2-II Notes, including transaction costs. As a result of the refinancing, the Company recorded a loss on early extinguishm
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
Based on the 2025 Hardees Franchise Disclosure Document, information regarding the total interest expense for the fiscal year ending in 2022 is not available. While the document includes details on interest expenses and capitalized interest costs for fiscal years 2023, 2024 and 2025, it does not provide the specific figure for 2022.
For example, the FDD mentions that during fiscal years 2024 and 2023, the company capitalized interest costs in the amounts of $180 and $325, respectively. It also states that in connection with the Series 2024-1 Refinancing and the amendment of the Series 2018-1 Variable Funding Notes, the company incurred debt issuance costs of $7,860. These deferred financing costs are amortized to interest expense within the Consolidated Statements of Operations using the effective interest method over the expected term of the notes.
A prospective Hardees franchisee should request this specific financial data from the franchisor to fully understand the company's financial performance and obligations during that period. Understanding the interest expenses for 2022 would allow a potential franchisee to better assess the financial health and stability of Hardees.