What is the final maturity 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 the 2025 FDD, Nothing Bundt Cakes issued Series 2021-1 Fixed Rate Secured Notes, also known as the "Offered Notes," on July 30, 2021, in connection with a Securitization Transaction. These notes were issued in two tranches: $280 million Series 2021-1 2.989% Fixed Rate Class A-2 Senior Secured Notes and $55 million Series 2021-1 4.970% Fixed Rate Class B Senior Subordinated Secured Notes.
Both tranches of the Offered Notes have a final maturity date of July 2051. This means that Nothing Bundt Cakes is obligated to repay the principal on these notes by this date.
Additionally, both tranches have an "Anticipated Repayment Date" of July 2026. It's important to note that the "Anticipated Repayment Date" is not the final maturity date, and Nothing Bundt Cakes has until July 2051 to fully repay the notes.