Attached files
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8-K - FORM 8-K - DOMINOS PIZZA INC | d572629d8k.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: | March 25, 2013 | |||
Quarterly Collection Period Ending: | June 16, 2013 | |||
Quarterly Payment Date: | July 25, 2013 |
Debt Service Coverage Ratios and Senior ABS Leverage
Senior ABS Leverage | Quarterly DSCR | |||||||
Current Period |
4.61 x | 3.55 x | ||||||
One Period Prior |
4.72 x | 3.37 x | ||||||
Two Periods Prior |
4.77 x | 3.36 x | ||||||
Three Periods Prior |
4.89 x | 3.14 x |
System Performance
Domestic
Franchise | Company-Owned | Total Domestic | ||||||||||
Open Stores at end of prior Quarterly Collection Period |
4,535 | 388 | 4,923 | |||||||||
Store Openings during Quarterly Collection Period |
19 | 1 | 20 | |||||||||
Store Transfers during Quarterly Collection Period |
(11 | ) | | (11 | ) | |||||||
Permanent Store Closures during Quarterly Collection Period |
| | | |||||||||
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Net Change in Open Stores during Quarterly Collection Period |
8 | 1 | 9 | |||||||||
Open Stores at end of Quarterly Collection Period |
4,543 | 389 | 4,932 |
International
Franchise | Company-Owned | Total International | ||||||||||
Open Stores at end of prior Quarterly Collection Period |
5,407 | | 5,407 | |||||||||
Store Openings during Quarterly Collection Period |
116 | | 116 | |||||||||
Permanent Store Closures during Quarterly Collection Period |
(15 | ) | | (15 | ) | |||||||
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Net Change in Open Stores during Quarterly Collection Period |
101 | | 101 | |||||||||
Open Stores at end of Quarterly Collection Period |
5,508 | | 5,508 | |||||||||
Franchise | Company-Owned | International | ||||||||||
Same-Store Sales Growth for Quarterly Collection Period |
6.8 | % | 5.7 | % | 5.8 | % |
Potential Events
Material Concern | ||||||
i. | Potential Rapid Amortization Event | No | ||||
ii. | Potential Manager Termination Event | No |
Cash Trapping
Date of | ||||||||||||
Commenced | Commencement | |||||||||||
i. | a. | Partial Cash Trapping Period | No | N/A | ||||||||
b. | Full Cash Trapping Period | No | N/A | |||||||||
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
Date of | ||||||||||
Commenced | Commencement | |||||||||
i. | Rapid Amortization Event | No | N/A | |||||||
ii. | Default | No | N/A | |||||||
iii. | Event of Default | No | N/A | |||||||
iv. | Manager Termination Event | No | N/A |
Non-Amortization Test
Date of | ||||||||||
Commenced | Commencement | |||||||||
i. | Non-Amortization Period | No | N/A |
Extension Periods
Date of | ||||||||||
Commenced | Commencement | |||||||||
i. | Series 2012-1 Class A-1 first renewal period | No | N/A | |||||||
ii. | Series 2012-1 Class A-1 second renewal period | No | N/A |
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: | March 25, 2013 | |||
Quarterly Collection Period Ending: | June 16, 2013 | |||
Quarterly Payment Date: | July 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 |
$ | | ||||||
b. Series 2012-1 Class A-2 Notes |
$ | 1,545,468,750.00 | ||||||
c. Senior Subordinated Notes |
$ | | ||||||
d. Subordinated Notes |
$ | | ||||||
ii. | ReserveAccount Balances |
|||||||
a. Available Senior Notes Interest Reserve Account Amount (1) |
$ | 21,181,930.00 | ||||||
b. Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | ||||||
c. Available Cash Trap Reserve Account Amount (1) |
$ | | ||||||
2. |
Retained Collections for Current Quarterly Payment Date: | |||||||
i. | Franchisee Payments | $ | 92,974,054.84 | |||||
a. Domestic Continuing Franchise Fees |
$ | 25,518,870.53 | ||||||
b. International Continuing Franchise Fees |
$ | | ||||||
c. Initial Franchise Fees |
$ | | ||||||
d. Other Franchise Fees |
$ | 1,940,070.44 | ||||||
e. PULSE Maintenance Fees |
$ | 385,116.70 | ||||||
f. PULSE License Fees |
3,159,818.76 | |||||||
g. Technology Fees |
$ | | ||||||
h. Franchisee Insurance Proceeds |
$ | | ||||||
i. Other Franchisee Payments | ||||||||
ii | Company-Owned Stores License Fees | $ | 4,220,626.17 | |||||
iii. | Third-Party License Fees | $ | | |||||
iv. | Product Purchase Payments | $ | 287,915,576.74 | |||||
v. | Co-Issuers Insurance Proceeds | $ | | |||||
vi. | Asset Disposition Proceeds | $ | | |||||
vii. | Excluded Amounts | $ | 237,052.99 | |||||
viii. | Other Collections | $ | 112,687.00 | |||||
ix. | Investment Income | $ | 9,342.82 | |||||
x. | HoldCo L/C Agreement Fee Income Less: | $ | 341,341.44 | |||||
Less: | ||||||||
xiii. | Excluded Amounts | $ | 49,352,049.21 | |||||
a. Advertising Fees |
$ | 49,114,996.22 | ||||||
b. Company-Owned Store Advertising Fees |
$ | | ||||||
c. Third-Party Matching Expenses |
$ | 237,052.99 | ||||||
xiv. | Product Purchase Payments | $ | 287,915,576.74 | |||||
xiv. | Bank Account Expenses | $ | 31,320.38 | |||||
Plus: | ||||||||
xvi. | Aggregate Weekly Distributor Profit Amount | $ | 27,384,226.41 | |||||
xvii. | Retained Collections Contributions | $ | | |||||
xviii. | Total Retained Collections | $ | 106,899,838.51 | |||||
i. | Manager Advances | $ | 1,750,000.00 | |||||
3. |
Adjusted Net Cash Flow for Current Quarterly Payment Date: |
| ||||||
i. |
Retained Collections for Quarterly Collection Period Less: |
$ | 106,899,838.51 | |||||
Less: |
||||||||
ii. |
Servicing Fees, Liquidation Fees and Workout Fees |
$ | 79,165.21 | |||||
iii. |
Securitization Entities Operating Expenses paid during Quarterly Collection Period |
$ | 40,000.00 | |||||
iv. |
Weekly Manager Fee Amounts paid during Quarterly Collection Period |
$ | 13,158,000.00 | |||||
v. |
Manager Advances Reimbursement Amounts |
$ | 1,752,491.32 | |||||
vi. |
PULSE Maintenance Fees |
$ | 1,940,070.44 | |||||
vii. |
Technology Fees |
$ | 3,159,818.76 | |||||
viii. |
Administrative Expenses |
$ | 25,000.00 | |||||
vix. |
Investment Income |
$ | 9,342.82 | |||||
vx. |
Retained Collections Contributions, if applicable, received during Quarterly Collection Period |
$ | | |||||
viii. |
Net Cash Flow for Quarterly Collection Period |
$ | 86,735,949.96 | |||||
ix. |
Net Cash Flow for Quarterly Collection Period / Number of Days in Quarterly Collection Period |
$ | 1,032,570.83 | |||||
x. |
Multiplied by 91 if 52 week fiscal year or 92.75 if 53 week fiscal year |
91 | ||||||
xi. |
Adjusted Net Cash Flow for Quarterly Collection Period |
$ | 93,963,945.79 |
1. | Amounts calculated as of the close of business on the last Business Day of the preceding Quarterly Collection Period. |
Page 2
Dominos SPV Canadian Holding Company Inc.
Dominos Pizza Distribution LLC
Dominos IP Holder LLC
Quarterly Noteholders Statement
Quarterly Collection Period Starting: | March 25, 2013 | |||
Quarterly Collection Period Ending: | June 16, 2013 | |||
Quarterly Payment Date: | July 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 | $ | 345,467.86 | ||||||||
Series 2012-1 Class A-2 Quarterly Interest | $ | 20,152,912.50 | ||||||||
Series 2012-1 Senior Subordinated Quarterly Interest | $ | | ||||||||
ii. | Required Principal on Senior and Senior Subordinated Notes | |||||||||
Series 2012-1 Class A-2 Quarterly Scheduled Principal | $ | 5,906,250.00 | ||||||||
Series 2012-1 Senior Subordinated Scheduled Principal | $ | | ||||||||
iii. | Other | |||||||||
Series 2012-1 Class A-1 Quarterly Commitment Fees | $ | 78,738.15 | ||||||||
iv. | Total Debt Service | $ | 26,483,368.51 | |||||||
v. | Other Payments to Noteholders Relating to Notes | |||||||||
Series 2012-1 Subordinated Quarterly Interest | $ | | ||||||||
Series 2012-1 Subordinated Quarterly Scheduled Principal | $ | | ||||||||
Series 2012-1 Class A-1 Quarterly Contingent Additional Interest | $ | | ||||||||
Series 2012-1 Class A-2 Quarterly Contingent Additional Interest | $ | | ||||||||
Senior Subordinated Quarterly Contingent Additional Interest | $ | | ||||||||
Subordinated Quarterly Contingent Additional Interest | $ | | ||||||||
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 | $ | 449,206.00 | |||||||
ii. | All available deposits in Series 2012-1 Class A-2 Distribution Account | $ | 26,059,162.50 | |||||||
iii. | All available deposits in Senior Subordinated Distribution Account | $ | | |||||||
iv. | All available deposits in Subordinated Distribution Account | $ | | |||||||
v. | Total on Deposit in Distribution Accounts | $ | 26,508,368.50 | |||||||
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 | $ | 449,206.00 | |||||||
ii. | Indemnification and Real Estate Disposition Proceeds Payments to reduce commitments under Series 2012-1 Class A-1 Notes | $ | | |||||||
iii. | Principal payments to Series 2012-1 Class A-1 Notes | $ | | |||||||
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 | $ | 20,152,912.50 | |||||||
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 | |||||||
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$- | |||||||||
iii. | Principal payment to Senior Subordinated Notes | $ | | |||||||
iv. | Make-Whole Premium related to Senior Subordinated Notes | $ | | |||||||
Subordinated Distribution Account | ||||||||||
i. | Payment of interest related to Subordinated Notes | $ | | |||||||
ii. | Indemnification and Real Estate Disposition Proceeds payments to Subordinated Notes | $ | | |||||||
iii. | Principal payment to Subordinated Notes | $ | | |||||||
iv. | Make-Whole Premium related to Subordinated Notes | $ | | |||||||
Total Allocations from Distribution Accounts | $ | 26,059,162.50 | ||||||||
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 | $ | 82,867.50 | |||||||
iii. | Total Increase (Reduction) of Available Senior Notes Interest Reserve Account Amount | $ | (82,867.50 | ) | ||||||
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: | March 25, 2013 | |||
Quarterly Collection Period Ending: | June 16, 2013 | |||
Quarterly Payment Date: | July 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 | $ | | |||||
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ii. | Less draws on Available Cash Trap Reserve Account Amount | $ | | |||||
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iii. | Less Cash Trapping Release Amount | $ | | |||||
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iv. | Total Increase (Reduction) of Available Cash Trap Reserve Account Amount | $ | | |||||
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10. |
Real Estate Disposition Proceeds | |||||||
i. | Aggregate Real Estate Disposition Proceeds as of Prior Quarterly Payment Date | $ | | |||||
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ii. | Aggregate Real Estate Disposition Proceeds as of Current Quarterly Payment Date | $ | | |||||
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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 | $ | | |||||
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ii. | Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Current Quarterly Payment Date | $ | | |||||
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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 | $ | | |||||
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ii. | Series 2012-1 Class A-2 Notes | $ | 1,539,562,500.00 | |||||
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iii. | Senior Subordinated Notes | $ | | |||||
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iv. | Subordinated Notes | $ | | |||||
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v. | Reserve account balances: | |||||||
a. Available Senior Notes Interest Reserve Account Amount |
$ | 21,099,062.50 | ||||||
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b. Available Senior Subordinate Notes Interest Reserve Account Amount |
$ | | ||||||
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c. Available Cash Trap Reserve Account Amount |
$ | | ||||||
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IN WITNESS HEREOF, the undersigned has duly executed and delivered this Quarterly Noteholders Statement this 7/22/2013
Dominos Pizza LLC as Manager on behalf of the Master Issuer and certain subsidiaries thereto,
by:
Page 4