Fat Brands, Inc (FATAQ): debt financing — FAT Brands sells $40M of 6% senior secured notes via subsidiary

Fat Brands, Inc

Issued $40 million Series 2022-1 6.00% Class A-2 notes on Jan 25, 2023; total A-2 outstanding now $65M.
Notes mature July 22, 2051 but anticipated call date is July 25, 2023; extra 1% interest accrues after.
Secured by substantially all assets of FAT Brands GFG Royalty I, LLC and its guarantor subsidiaries.
Notes are obligations of the special-purpose subsidiary only; parent FAT Brands not liable.
Quarterly principal and interest payments from available cash under the indenture.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Fat Brands, Inc incurred senior notes of $40,000,000 with qualified institutional buyers at 6.00% Fixed Rate maturing July 22, 2051 (legal final maturity), anticipated call date July 25, 2023.

Instrument: senior notes
Principal: $40,000,000
Counterparty: qualified institutional buyers
Rate: 6.00% Fixed Rate
Maturity: July 22, 2051 (legal final maturity), anticipated call date July 25, 2023
Event: incurrence

Exact text from the filing

On January 25, 2023, FAT Brands Inc. (the “ Company ”) completed the sale of an aggregate principal amount of $40,000,000 of Series 2022-1 6.00% Fixed Rate Senior Secured Notes, Class A-2 (the “ Class A-2 Notes ”) issued by its special purpose, wholly-owned subsidiary, FAT Brands GFG Royalty I, LLC (the “ Issuer ”).

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

Fat Brands, Inc filing history →

Source: SEC EDGAR

accession 0001493152-23-003164

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.