What was the issue price of The Standardx's 2024 Fixed Rate Notes?
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 a
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, known as the "2024 Fixed Rate Notes". These notes were issued at a price of 99.994%. This means that for every $1,000 in face value of the notes, investors paid $999.94 at the time of issuance.
For a prospective franchisee, understanding the details of The Standardx's debt structure can provide insights into the company's financial health and stability. The issue price, along with the interest rate and maturity date, are key terms that define the cost and repayment schedule of the debt.
The FDD also mentions that during 2024, The Standardx repaid the 2024 Fixed Rate Notes, which had an outstanding balance of $746 million, at maturity for approximately $753 million, including $7 million of accrued interest. This indicates that The Standardx met its obligations on these notes. The company also issued several other series of senior notes in 2024 with varying interest rates and issue prices, using the proceeds to repay other outstanding debts and for general corporate purposes.