Attached files
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8-K - FORM 8-K - DOMINOS PIZZA INC | d495708d8k.htm |
EXHIBIT 99.1
Dominos Pizza Master Issuer LLC
Dominos SPV Canadian Holding Company Inc.
Dominos Pizza Distribution LLC
Dominos IP Holder LLC
Quarterly Noteholders Statement
Quarterly Collection Period Starting: | September 10, 2012 | |||||
Quarterly Collection Period Ending: | December 30, 2012 | |||||
Quarterly Payment Date: | January 25, 2013 |
Debt Service Coverage Ratios and Senior ABS Leverage
Senior ABS Leverage | Quarterly DSCR | |||||||
Current Period |
4.77 x | 3.36 x | ||||||
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|
|
|
|||||
One Period Prior |
4.89 x | 3.14 x | ||||||
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Two Periods Prior |
4.85 x | 3.21 x | ||||||
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Three Periods Prior |
5.37 x | 2.91 x | ||||||
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System Performance
Domestic
Franchise | Company-Owned | Total Domestic | ||||||||||
Open Stores at end of prior Quarterly Collection Period |
4,509 | 387 | 4,896 | |||||||||
Store Openings during Quarterly Collection Period |
49 | 2 | 51 | |||||||||
Store Transfers during Quarterly Collection Period |
| | | |||||||||
Permanent Store Closures during Quarterly Collection Period |
(18 | ) | (1 | ) | (19 | ) | ||||||
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|||||||
Net Change in Open Stores during Quarterly Collection Period |
31 | 1 | 32 | |||||||||
Open Stores at end of Quarterly Collection Period |
4,540 | 388 | 4,928 | |||||||||
International |
||||||||||||
Franchise | Company-Owned | Total International | ||||||||||
Open Stores at end of prior Quarterly Collection Period |
5,144 | | 5,144 | |||||||||
Store Openings during Quarterly Collection Period |
223 | | 223 | |||||||||
Permanent Store Closures during Quarterly Collection Period |
(40 | ) | | (40 | ) | |||||||
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|
|
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|||||||
Net Change in Open Stores during Quarterly Collection Period |
183 | | 183 | |||||||||
Open Stores at end of Quarterly Collection Period |
5,327 | | 5,327 | |||||||||
Franchise | Company-Owned | International | ||||||||||
Same-Store Sales Growth for Quarterly Collection Period |
4.9 | % | 2.5 | % | 5.2 | % |
Potential Events
Material Concern | ||||||||
i. | Potential Rapid Amortization Event | No | ||||||
ii. | Potential Manager Termination Event | No | ||||||
Cash Trapping |
||||||||
Commenced | Date of Commencement | |||||||
i. | a. | Partial Cash Trapping Period | No | N/A | ||||
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| |||||||
b. | Full Cash Trapping Period | No | N/A | |||||
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| |||||||
ii. | Series 2012-1 Cash Trapping Percentage during Quarterly Collection Period | N/A | ||||||
| ||||||||
iii | Series 2012-1 Cash Trapping Percentage following current Quarterly Payment Date | N/A | ||||||
| ||||||||
iv. | Series 2012-1 Cash Trapping Percentage during prior Quarterly Collection Period | N/A | ||||||
| ||||||||
v. | Series 2012-1 Partial Cash Trapping Release Event | N/A | ||||||
| ||||||||
vi. | Series 2012-1 Full Cash Trapping Release Event | N/A | ||||||
| ||||||||
Occurrence Dates |
||||||||
Commenced | Date of Commencement | |||||||
i. |
Rapid Amortization Event |
No | N/A | |||||
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ii. |
Default |
No | N/A | |||||
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iii. |
Event of Default |
No | N/A | |||||
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iv. |
Manager Termination Event |
No | N/A | |||||
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Non-Amortization Test |
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Commenced | Date of Commencement | |||||||
i. |
Non-Amortization Period |
No | N/A | |||||
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| |||||||
Extension Periods |
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Commenced | Date of Commencement | |||||||
i. |
Series 2012-1 Class A-1 first renewal period |
No | N/A | |||||
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| |||||||
ii. |
Series 2012-1 Class A-1 first second period |
No | N/A | |||||
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Page 1
Dominos Pizza Master Issuer LLC
Dominos SPV Canadian Holding Company Inc.
Dominos Pizza Distribution LLC
Dominos IP Holder LLC
Quarterly Noteholders Statement
Quarterly Collection Period Starting: | September 10, 2012 | |||||
Quarterly Collection Period Ending: | December 30, 2012 | |||||
Quarterly Payment Date: | January 25, 2013 |
Allocation of Funds | ||||||||||
1. |
Outstanding Notes and Reserve Account Balances as of Prior Quarterly Payment Date: | |||||||||
i. | Outstanding Principal Balances |
|||||||||
a. | Advances Under Series 2012-1 Class A-1 Notes |
$ | | |||||||
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|
|||||||||
b. | Series 2012-1 Class A-2 Notes |
$ | 1,557,281,250.00 | |||||||
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c. | Senior Subordinated Notes |
$ | | |||||||
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|||||||||
d. | Subordinated Notes |
$ | | |||||||
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ii. | Reserve Account Balances |
|||||||||
a. | Available Senior Notes Interest Reserve Account Amount (1) |
$ | 21,375,927.50 | |||||||
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|
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b. | Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | |||||||
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c. | Available Cash Trap Reserve Account Amount (1) |
$ | | |||||||
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|
|||||||||
2. |
Retained Collections for Current Quarterly Payment Date: | |||||||||
i. | Franchisee Payments |
|||||||||
a. | Domestic Continuing Franchise Fees |
$ | 114,467,609.06 | |||||||
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b. | International Continuing Franchise Fees |
$ | 32,685,618.83 | |||||||
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c. | Initial Franchise Fees |
$ | | |||||||
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d. | Other Franchise Fees |
$ | | |||||||
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e. | PULSE Maintenance Fees |
$ | 141,313.09 | |||||||
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f. | PULSE License Fees |
$ | 569,337.50 | |||||||
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g. | Technology Fees |
6,484,252.58 | ||||||||
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h. | Franchisee Insurance Proceeds |
$ | | |||||||
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i. | Other Franchisee Payments |
$ | | |||||||
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ii. | Company-Owned Stores License Fees |
$ | 5,432,942.89 | |||||||
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iii. | Third-Party License Fees |
$ | | |||||||
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iv. | Product Purchase Payments |
$ | 371,008,893.37 | |||||||
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v. | Co-Issuers Insurance Proceeds |
$ | | |||||||
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vi. | Asset Disposition Proceeds |
$ | | |||||||
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vii. | Excluded Amounts |
$ | 312,375.73 | |||||||
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viii. | Other Collections |
$ | 152,177.00 | |||||||
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ix. | Investment Income |
$ | 23,992.80 | |||||||
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|||||||||
x. | HoldCo L/C Agreement Fee Income |
$ | 483,224.63 | |||||||
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xi. | Servicer Advances |
$ | | |||||||
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xii. | Manager Advances |
$ | | |||||||
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Less: | ||||||||||
xi. | Excluded Amounts |
$ | 57,494,118.45 | |||||||
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a. | Advertising Fees |
$ | 57,181,742.72 | |||||||
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b. | Company-Owned Store Advertising Fees |
$ | | |||||||
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c. | Third-Party Matching Expenses |
$ | 312,375.73 | |||||||
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xii. | Product Purchase Payments |
$ | 371,008,893.37 | |||||||
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xiii. | Bank Account Expenses |
$ | 60,055.93 | |||||||
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Plus: | ||||||||||
xiv. | Aggregate Weekly Distributor Profit Amount |
$ | 30,674,710.26 | |||||||
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xv. | Retained Collections Contributions |
$ | | |||||||
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|||||||||
xvi. | Total Retained Collections |
$ | 133,873,379.99 | |||||||
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3. |
Adjusted Net Cash Flow for Current Quarterly Payment Date: | |||||||||
i. | Retained Collections for Quarterly Collection Period | $ | 133,873,379.99 | |||||||
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|
|||||||||
Less: | ||||||||||
ii. | Servicing Fees, Liquidation Fees and Workout Fees |
$ | 79,841.63 | |||||||
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iii. | Securitization Entities Operating Expenses paid during Quarterly Collection Period |
$ | | |||||||
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iv. | Weekly Manager Fee Amounts paid during Quarterly Collection Period |
$ | 17,015,384.62 | |||||||
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v. | Manager Advances Reimbursement Amounts |
$ | | |||||||
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|||||||||
vi. | PULSE Maintenance Fees |
$ | 141,313.09 | |||||||
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|
|||||||||
vii. | Technology Fees |
$ | 6,484,252.58 | |||||||
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|||||||||
viii. | Administrative Expenses |
$ | 25,000.00 | |||||||
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|
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vix. | Investment Income |
$ | 23,992.80 | |||||||
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vx. | Retained Collections Contributions, if applicable, received during Quarterly Collection Period |
$ | | |||||||
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viii. | Net Cash Flow for Quarterly Collection Period | $ | 110,103,595.27 | |||||||
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ix. | Net Cash Flow for Quarterly Collection Period / Number of Days in Quarterly Collection Period | $ | 983,067.81 | |||||||
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x. | Multiplied by 91 if 52 week fiscal year or 92.75 if 53 week fiscal year |
91 | ||||||||
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|||||||||
xi. | Adjusted Net Cash Flow for Quarterly Collection Period | $ | 89,459,171.15 | |||||||
|
|
1. | Amounts calculated as of the close of business on the last Business Day of the preceding Quarterly Collection Period. |
Page 2
Dominos Pizza Master Issuer LLC
Dominos SPV Canadian Holding Company Inc.
Dominos Pizza Distribution LLC
Dominos IP Holder LLC
Quarterly Noteholders Statement
Quarterly Collection Period Starting: | September 10, 2012 | |||||
Quarterly Collection Period Ending: | December 30, 2012 | |||||
Quarterly Payment Date: | January 25, 2013 |
4. |
Debt Service / Payments to Noteholders for Current Quarterly Payment Date: | |||||||||
i. |
Required Interest on Senior and Senior Subordinated Notes |
|||||||||
Series 2012-1 Class A-1 Quarterly Interest |
$ | 366,813.45 | ||||||||
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|
|||||||||
Series 2012-1 Class A-2 Quarterly Interest |
$ | 20,306,947.50 | ||||||||
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Series 2012-1 Senior Subordinated Quarterly Interest |
$ | | ||||||||
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ii. |
Required Principal on Senior and Senior Subordinated Notes |
|||||||||
Series 2012-1 Class A-2 Quarterly Scheduled Principal |
$ | 5,906,250.00 | ||||||||
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|
|||||||||
Series 2012-1 Senior Subordinated Scheduled Principal |
$ | | ||||||||
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iii. |
Other |
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Series 2012-1 Class A-1 Quarterly Commitment Fees |
$ | 75,793.93 | ||||||||
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|||||||||
iv. |
Total Debt Service | $ | 26,655,804.88 | |||||||
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v. |
Other Payments to Noteholders Relating to Notes |
|||||||||
Series 2012-1 Subordinated Quarterly Interest |
$ | | ||||||||
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|
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Series 2012-1 Subordinated Quarterly Scheduled Principal |
$ | | ||||||||
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Series 2012-1 Class A-1 Quarterly Contingent Additional Interest |
$ | | ||||||||
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Series 2012-1 Class A-2 Quarterly Contingent Additional Interest |
$ | | ||||||||
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Senior Subordinated Quarterly Contingent Additional Interest |
$ | | ||||||||
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Subordinated Quarterly Contingent Additional Interest |
$ | | ||||||||
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|||||||||
5. | Aggregate Weekly Allocations to Distribution Accounts for Current Quarterly Payment Date: | |||||||||
i. |
All available deposits in Series 2012-1 Class A-1 Distribution Account |
$ | 467,607.38 | |||||||
|
|
|||||||||
ii. |
All available deposits in Series 2012-1 Class A-2 Distribution Account |
$ | 26,213,197.50 | |||||||
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iii. |
All available deposits in Senior Subordinated Distribution Account |
$ | | |||||||
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iv. |
All available deposits in Subordinated Distribution Account |
$ | | |||||||
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v. |
Total on Deposit in Distribution Accounts |
$ | 26,680,804.88 | |||||||
|
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6. | Distributions for Current Quarterly Payment Date: | |||||||||
Series 2012-1 Class A-1 Distribution Account | ||||||||||
i. |
Payment of interest and fees related to Series 2012-1 Class A-1 Notes |
$ | 467,607.38 | |||||||
|
|
|||||||||
ii. |
Indemnification and Real Estate Disposition Proceeds Payments to reduce commitments under Series 2012-1 Class A-1 Notes |
$ | | |||||||
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|
|||||||||
iii. |
Principal payments to Series 2012-1 Class A-1 Notes |
$ | | |||||||
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|
|||||||||
iv. |
Payment of Series 2012-1 Class A-1 Notes Breakage Amounts |
$ | | |||||||
|
|
|||||||||
Series 2012-1 Class A-2 Distribution Account | ||||||||||
i. |
Payment of interest related to Series 2012-1 Class A-2 Notes | $ | 20,306,947.50 | |||||||
|
|
|||||||||
ii. |
Indemnification and Real Estate Disposition Proceeds payments to Series 2012-1 Class A-2 Notes |
$ | | |||||||
|
|
|||||||||
iii. |
Principal payment to Series 2012-1 Class A-2 Notes | $ | 5,906,250.00 | |||||||
|
|
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iv. |
Make-Whole Premium related to Series 2012-1 Class A-2 Notes |
$ | | |||||||
|
|
|||||||||
Senior Subordinated Distribution Account | ||||||||||
i. |
Payment of interest related to Senior Subordinated Notes |
$ | | |||||||
|
|
|||||||||
ii. |
Indemnification and Real Estate Disposition Proceeds payments to Senior Subordinated Notes |
$ | | |||||||
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|
|||||||||
iii. |
Principal payment to Senior Subordinated Notes |
$ | | |||||||
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|||||||||
iv. |
Make-Whole Premium related to Senior Subordinated Notes |
$ | | |||||||
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Subordinated Distribution Account | ||||||||||
i. |
Payment of interest related to Subordinated Notes |
$ | | |||||||
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|||||||||
ii. |
Indemnification and Real Estate Disposition Proceeds payments to Subordinated Notes |
$ | | |||||||
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|||||||||
iii. |
Principal payment to Subordinated Notes |
$ | | |||||||
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|||||||||
iv. |
Make-Whole Premium related to Subordinated Notes |
$ | | |||||||
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|
|||||||||
Total Allocations from Distribution Accounts |
$ | 26,680,804.88 | ||||||||
|
|
|||||||||
7. | Senior Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
|||||||||
i. |
Deposits into Senior Notes Interest Reserve Account during Quarterly Collection Period |
$ | | |||||||
|
|
|||||||||
ii. |
Less draws on Available Senior Notes Interest Reserve Account Amount |
$ | 92,042.50 | |||||||
|
|
|||||||||
iii. |
Total Increase (Reduction) of Available Senior Notes Interest Reserve Account Amount |
$ | (92,042.50 | ) | ||||||
|
|
|||||||||
8. | Senior Subordinated Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
|||||||||
i. |
Deposits into Senior Subordinated Notes Interest Reserve Account during Quarterly Collection Period |
$ | | |||||||
|
|
|||||||||
ii. |
Less draws on Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | |||||||
|
|
|||||||||
iii. |
Total Increase (Reduction) of Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | |||||||
|
|
Page 3
Dominos Pizza Master Issuer LLC
Dominos SPV Canadian Holding Company Inc.
Dominos Pizza Distribution LLC
Dominos IP Holder LLC
Quarterly Noteholders Statement
Quarterly Collection Period Starting: | September 10, 2012 | |||||
Quarterly Collection Period Ending: | December 30, 2012 | |||||
Quarterly Payment Date: | January 25, 2013 |
9. | Cash Trap Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: | |||||||||
i. |
Deposits into Cash Trap Reserve Account during Quarterly Collection Period |
$ | | |||||||
|
|
|||||||||
ii. |
Less draws on Available Cash Trap Reserve Account Amount |
$ | | |||||||
|
|
|||||||||
iii. |
Less Cash Trapping Release Amount |
$ | | |||||||
|
|
|||||||||
iv. |
Total Increase (Reduction) of Available Cash Trap Reserve Account Amount |
$ | | |||||||
|
|
|||||||||
10. |
Real Estate Disposition Proceeds | |||||||||
i. |
Aggregate Real Estate Disposition Proceeds as of Prior Quarterly Payment Date |
$ | | |||||||
|
|
|||||||||
ii. |
Aggregate Real Estate Disposition Proceeds as of Current Quarterly Payment Date |
$ | | |||||||
|
|
|||||||||
11. | Scheduled Principal Catch-Up Amounts | |||||||||
i. |
Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Prior Quarterly Payment Date |
$ | | |||||||
|
|
|||||||||
ii. |
Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Current Quarterly Payment Date |
$ | | |||||||
|
|
|||||||||
12. |
Outstanding Balances as of Current Quarterly Payment Date (after giving effect to payments to be made on such date): |
|||||||||
i. |
Series 2012-1 Class A-1 Notes |
$ | | |||||||
|
|
|||||||||
ii. |
Series 2012-1 Class A-2 Notes |
$ | 1,551,375,000.00 | |||||||
|
|
|||||||||
iii. |
Senior Subordinated Notes |
$ | | |||||||
|
|
|||||||||
iv. |
Subordinated Notes |
$ | | |||||||
|
|
|||||||||
v. |
Reserve account balances: |
|||||||||
a. | Available Senior Notes Interest Reserve Account Amount |
$ | 21,283,885.00 | |||||||
|
|
|||||||||
b. | Available Senior Subordinate Notes Interest Reserve Account Amount |
$ | | |||||||
|
|
|||||||||
c. | Available Cash Trap Reserve Account Amount |
$ | | |||||||
|
|
IN WITNESS HEREOF, the undersigned has duly executed and delivered this Quarterly Noteholders Statement
this |
3/1/2013 |
Dominos Pizza LLC as Manager on behalf of the Master Issuer and certain subsidiaries thereto,
by: |
|
Page 4