secwatch.observer — SEC 8-K summary
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Issuer:     Driven Brands Holdings Inc. (DRVN)
CIK:        0001804745
Form:       8-K
Filed at:   2022-10-05T23:59:59+00:00
Accession:  0001193125-22-258222
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Driven Brands closes $365M securitization issuance; adds $135M variable notes
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- $365M Class A-2 Senior Secured Notes at 7.4% coupon; offering increased by over 30%.
- Added $135M Class A-1 Variable Funding Notes, bringing total capacity to $250M.
- Proceeds used for general corporate purposes and repayment of revolving credit facilities.
- Notes rated BBB (Kroll) and BBB- (S&P); blended fixed-rate debt cost 4.3% on a Q2 2022 proforma basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804745/000119312522258222/0001193125-22-258222-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804745/000119312522258222/d261346d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-258222

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