Driven Brands

Driven Brands (DRVN) announced the completion of a $500 million offering of Series 2025-1 Fixed Rate Senior Secured Notes, Class A-2, maturing in 2055 with an anticipated repayment in 2030. Proceeds will refinance existing debt and cover transaction expenses. The A-2 Notes, rated BBB by Kroll and BBB- by S&P, feature a 5.296% coupon. This securitization leverages Driven Brands’ franchise network and revenue. Driven Brands, North America’s largest automotive services company with 4,800 locations, will use remaining funds for general corporate purposes.