What interest rate do The Standardx's senior notes due in 2034 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 du
Source: Item 10 — OTHER ASSETS (FDD pages 132–156)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, the senior notes due in 2034 carry an interest rate of 5.500%. These notes were issued in 2024 with an aggregate amount of $350 million at an issue price of 98.860%.
The FDD also mentions that The Standardx may redeem some or all of the Senior Notes at any time prior to their maturity. The redemption price would be equal to 100% of the principal amount of the Senior Notes redeemed plus any accrued and unpaid interest to the date of redemption, along with a potential make-whole amount. The make-whole payment is based on the yield of U.S. Treasury securities with a comparable maturity to the Senior Notes at the time of redemption.
For a prospective franchisee, this information provides insight into The Standardx's financial structure and debt obligations. Understanding the terms of these senior notes, including the interest rate and redemption conditions, can help potential franchisees assess the financial stability and risk profile of The Standardx. It's important to note that these details are part of the broader financial picture and should be considered alongside other financial disclosures in the FDD.