Domino's said some of its subsidiaries intend to issue $1.0 billion of new securitized notes (the 2025 Notes) to refinance part of their outstanding securitization debt, the company said on August 6, 2025.

1. 01

   Domino's said some of its subsidiaries intend to issue $1.0 billion of new securitized notes (the 2025 Notes) to refinance part of their outstanding securitization debt, the company said on August 6, 2025.

2. 02

   The company said it plans to use the proceeds from the 2025 Notes, along with about $150 million of cash on hand, to prepay at par the 2015-1 Class A-2-II $742.0 million and the 2018-1 Class A-2-I $402.7 million, and to pay transaction fees and expenses.

3. 03

   The company said it expects its subsidiaries to enter into a new $320 million variable funding note facility that would replace the existing $200 million 2021-1 and $120 million 2022-1 Variable Funding Notes, Class A-1.

4. 04

   The company said there were no outstanding borrowings under the existing variable funding note facility as of June 15, 2025, and outstanding letters of credit were about $56.4 million. It said the offering is expected to close in Q3 2025, subject to market and other conditions, but it cannot be assured that the refinancing will be completed.

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Original filing

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