FAT Brands amends Fazoli's securitization, extends call and repayment dates to 2025-2026

Fat Brands, Inc

Anticipated Call Date extended from July 2023 to October 2025; 1.0% extra interest if not repaid.
Anticipated Repayment Date of Class A-2 Notes extended from Jan 2025 to July 2026; 2.5% extra interest triggers.
Financial covenants (debt service coverage, leverage) relaxed or deferred to 2026 to avoid rapid amortization or default.
Amendment permits refranchising of corporate-owned Fazoli's by allowing disposition of negative cash flow leases.
Controlling Class Members now have right to instruct Controlling Class Representative under the Amendment Documents.

item 1.01 item 9.01

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accession 0001641172-25-002598

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