What interest rate do The Standardx's 2029 Notes carry?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
ance on the 2023 Fixed Rate Notes, as described below.
- In 2024, we issued an aggregate $600 million of 5.250% senior notes due 2029 at an aggregate issue price of 99.693% (the "2029 Notes"), $450 million of 5.375% senior notes due 2031 at an issue price of 99.745% (the "2031 Notes"), and $350 million of 5.500% senior notes due 2034 at an issue price of 98.860% (the "2034 Notes"). We received approximately $1,380 million of net proceeds, after deducting $20 million of underwriting discounts and other offering expenses. We used the net proceeds from a portion of 2029 Notes and the 2034 Notes to repay the outstanding balance on the 2024 Fixed Rate Notes, as described below. We temporarily invested the net proceeds from the remaining portion of the 2029 Notes and 2031 Notes in marketable securities (see Note 4), and we intend to use the net proceeds to repay the outstanding balance on the 2025 Notes at o
Source: Item 10 — OTHER ASSETS (FDD pages 132–156)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, the 2029 Notes carry an interest rate of 5.250%. These notes were issued in 2024 with an aggregate amount of $600 million at an issue price of 99.693%.
The document indicates that The Standardx received approximately $1,380 million in net proceeds after deducting $20 million in underwriting discounts and other offering expenses from the 2029 Notes, 2031 Notes, and 2034 Notes. 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.
The remaining portion of the 2029 Notes and 2031 Notes were temporarily invested in marketable securities, with the intention to use these proceeds to repay the outstanding balance on the 2025 Notes at or prior to maturity and for general corporate purposes. This provides insight into The Standardx's debt management and investment strategies.