Fat Brands - 40M USD A-2 Token

FAT2020-1-A2


Price
$1 USD (0%)

24h Volume
0

Market Cap
$20,000,000

Last Trade
March 6, 2020

Last Trade
March 6, 2020
Fat Brands - 40M USD A-2 logo

FAT2020-1-A2 Price

Trading History

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Terms

Fundraise Information

Total Raise $20,000,000 USD
Soft Cap -
Raise Status Closed
Minimum Investment -
Accepted Investors US Accredited
Exemptions RegD
Instrument Fixed-Rate Asset-Backed Notes
Token Issuance Info 12-month lock up period due to RegD

Token Information

Price Per (FAT2020-1-A2) $1 USD (0%)
Token Issuance Platform Cadence (Now Percent)
Blockchains Available On Ethereum
Security Type Fixed Income
Asset Class Debt
Payment Options USD

Token Rights

See Overview

About

Overview

Fat Brands has completed an offering of $40 million of Series 2020-1 Fixed Rate Asset-Backed Notes (the “Notes”). The offering has been structured as a whole business securitization transaction through the creation of FAT Brands Royalty I, LLC (“FAT Royalty” or the “Issuer”). The Notes were priced with a weighted average fixed interest rate of 7.75% per annum.

The Notes, rated by DBRS Morningstar, were issued in two tranches with senior tranche, A-2, detailed below:

Issuer(s): FAT Brands Royalty I, LLC
Country: United States
Date: 3/6/2020
Class: A-2
Seniority: Senior
Rating BB
Size (USD): $20M
Coupon: 6.50%
Weighted Average Life: 1.99 Years
Interest-Only/ Non-Call Period: 12 months
First Call Date: 4/26/2021
Anticipated Repayment Date: 1/25/2023
Final Legal Maturity: 4/27/2026

The Company intends to use the proceeds from the Notes to repay existing indebtedness under its term debt; pay the transaction costs and fund the reserve accounts associated with the securitized financing facility; and for potential acquisitions, working capital and general corporate purposes, and the repayment of other indebtedness.

Cadence Group, Inc., a leading fintech securitization platform, was the structuring consultant of this transaction. Legal advisors to this transaction were Loeb & Loeb LLP and Foley & Lardner LLP for FAT Brands, and Manatt, Phelps & Phillips, LLP for Cadence Group, Inc.

Highlights

This listing is for informational purposes only, highlighting the issuance information. Trading data is currently unavailable

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