What was the interest rate for The Standardx's 2013 Notes?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
ding Senior Notes, by year of issuance, is as follows:
- In 2013, we issued $350 million of 3.375% senior notes du
Source: Item 10 — OTHER ASSETS (FDD pages 132–156)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, in 2013, The Standardx issued $350 million of senior notes due in 2023. These notes, referred to as the "2023 Notes," carried an interest rate of 3.375%. The notes were issued at a price of 99.498% of the principal amount.
This information is relevant for prospective franchisees as it provides insight into The Standardx's financial activities, specifically its debt financing. Understanding the company's debt structure, including interest rates and maturity dates, can help franchisees assess the financial stability and risk profile of The Standardx.
The fact that The Standardx issued these notes at a price slightly below the principal amount (99.498%) suggests that the market conditions at the time of issuance required a small discount to attract investors. The interest rate of 3.375% reflects the prevailing interest rate environment and the perceived risk associated with The Standardx's debt at that time. The notes matured in 2023 and were redeemed during the year ended December 31, 2022.