What is the Anticipated Repayment Date for both tranches of the 2021 Notes related to Nothing Bundt Cakes?
Nothing_Bundt_Cakes Franchise · 2025 FDDAnswer from 2025 FDD Document
,759 | | Thereafter | 94,113 | | Total future amortization expense | $ 168,193 |
4. Debt
In conjunction with the Securitization Transaction, on July 30, 2021, the Debt Issuer entered into a base indenture (the "Indenture") under which the Debt Issuer may issue multiple series of notes. On the same date, the Debt Issuer
Source: Item 23 — RECEIPTS (FDD pages 93–309)
What This Means (2025 FDD)
According to the 2025 FDD, in conjunction with a Securitization Transaction on July 30, 2021, the Debt Issuer issued Series 2021-1 Fixed Rate Secured Notes (the "2021 Notes") totaling $335.0 million. These notes were divided into two tranches: one for $280.0 million with a 2.989% fixed interest rate and another for $55.0 million with a 4.970% fixed interest rate.
Both tranches of the 2021 Notes have an "Anticipated Repayment Date" of July 2026. However, the final maturity date for both tranches is July 2051.
Prospective Nothing Bundt Cakes franchisees should note the distinction between the Anticipated Repayment Date and the final maturity date. The Anticipated Repayment Date serves as a target for when the debt is expected to be repaid, while the final maturity date represents the absolute deadline for repayment. Understanding these terms is crucial for assessing the financial obligations and long-term stability of Nothing Bundt Cakes.