What was the amount of the 2024 Fixed Rate Notes issued by The Standardx?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
on of 5.750% senior notes due 2030 (the "2030 Notes").
- In 2021, we issued $700 million of 1.300% senior notes due 2023 at an issue price of 99.941% (the "2023 Fixed Rate Notes"), $300 million of floating rate senior notes due 2023 (the "2023 Floating Rate Notes"), and $750 million of 1.800% senior notes due 2024 at an issue price of 99.994% (the "2024 Fixed Rate Notes").
- In 2023, we issued $600 million of 5.750% senior notes due 2027 at an issue price of 99.975% (the "2027 Notes"). We received approximately $596 million of net proceeds from the sale, after deducting $4 million of underwriting discounts and other offering expenses. We used the net proceeds from the senior notes issuance, together with cash on hand, to repay the outstanding balance on the 2023 Fixed Rate Notes, as described below.
Source: Item 10 — OTHER ASSETS (FDD pages 132–156)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, in 2021, The Standardx issued $750 million of 1.800% senior notes due in 2024. These notes were issued at a price of 99.994% and are referred to as the "2024 Fixed Rate Notes."
In 2024, The Standardx issued $600 million of 5.250% senior notes due 2029, $450 million of 5.375% senior notes due 2031, and $350 million of 5.500% senior notes due 2034. The proceeds from a portion of the 2029 Notes and the 2034 Notes were used to repay the outstanding balance on the 2024 Fixed Rate Notes.
During the year ended December 31, 2024, The Standardx repaid the 2024 Fixed Rate Notes, of which there was $746 million outstanding, at maturity for approximately $753 million, inclusive of $7 million of accrued interest.