What is the Anticipated Repayment Date for both tranches of the Offered Notes issued by Nothing Bundt Cakes?
Nothing_Bundt_Cakes Franchise · 2025 FDDAnswer from 2025 FDD Document
end of period | $ 259,433,351 $ | 295,253,884 |
Notes to Financial Statements
4. Securitization Transaction
In conjunction with the Securitization Transaction, on July 30, 2021, the Issuer entered into a base indenture (the "Indenture") under which the Issuer may issue multiple series of notes. On the same date, Issuer
Source: Item 23 — RECEIPTS (FDD pages 93–309)
What This Means (2025 FDD)
According to Nothing Bundt Cakes' 2025 Franchise Disclosure Document, the Offered Notes were issued in two tranches. The first tranche is the $280 million Series 2021-1 2.989% Fixed Rate Class A-2 Senior Secured Notes. The second tranche consists of the $55 million Series 2021-1 4.970% Fixed Rate Class B Senior Subordinated Secured Notes.
Both tranches of the Offered Notes have an Anticipated Repayment Date of July 2026. Additionally, both tranches have a final maturity date of July 2051.
These notes were issued as part of a Securitization Transaction that occurred on July 30, 2021, where the Manager contributed intellectual property and franchise assets to the Company.