Driven Brands Holdings (DRVN) has shared an announcement.
On July 29, 2024, Driven Brands Funding, LLC and Driven Brands Canada Funding Corporation, both subsidiaries of Driven Brands Holdings Inc., issued $675 million in senior securitization notes, with varying terms and repayment dates extending as far as October 2054. These notes are backed by the issuers’ assets and carry certain quarterly financial obligations. Additionally, an amendment was made to the existing Base Indenture, modifying a key financial ratio definition. The company also released a press statement outlining these financial activities.
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