What was the amount of the 2025 Notes issued by The Standardx?

According to The Standardx's 2025 Franchise Disclosure Document, in 2020, The Standardx issued $450 million of 5.375% senior notes due in 2025. These notes are referred to as the "2025 Notes."

These senior notes have interest payable semi-annually. The Standardx has the option to redeem some or all of the Senior Notes before their maturity date. The redemption price would be equal to 100% of the principal amount of the Senior Notes redeemed, plus any accrued and unpaid interest up to the redemption date. There may also be a "make-whole" amount included in the redemption price, which would depend on the yield of U.S. Treasury securities with a comparable maturity to the Senior Notes at the time of redemption.

In 2024, The Standardx issued several series of senior notes and intended to use some of the net proceeds to repay the outstanding balance on the 2025 Notes at or prior to maturity. This indicates that The Standardx may manage its debt by issuing new notes to cover existing obligations, which is a common financial strategy.