---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-187768"
form_type: "8-K"
ticker: "DRVN"
cik: "0001804745"
company_name: "Driven Brands Holdings Inc."
filed_at: "2024-07-30T23:59:59+00:00"
generated_at: "2026-05-31T15:22:20.018406+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Driven Brands closes $275M securitization at 6.372% to refinance existing debt

## Summary
- Issued $275M of 6.372% Series 2024-1 Class A-2 Notes, final maturity Oct 2054, anticipated repayment Oct 2031.
- Proceeds used to refinance Series 2018-1 Class A-2 Notes, pay transaction fees, and for general corporate purposes.
- Added $400M Series 2024-1 Class A-1 Variable Funding Notes capacity, replacing $135M undrawn Series 2019-3 A-1 Notes; A-1 Notes undrawn at close.
- Notes rated BBB by KBRA and BBB- by S&P; Company's eleventh whole business securitization issuance.
- Entered Amendment No. 11 to Base Indenture, revising definition of DSCR.

## SEC filing metadata
- accession: 0001193125-24-187768
- form_type: 8-K
- ticker: DRVN
- cik: 0001804745
- company_name: Driven Brands Holdings Inc.
- filed_at: 2024-07-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1804745/000119312524187768/0001193125-24-187768-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1804745/000119312524187768/d28938d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-187768
- JSON: https://secwatch.observer/filing/0001193125-24-187768.json
- Plain text: https://secwatch.observer/filing/0001193125-24-187768.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.