...GoTo Foods Funding LLC's (formerly known as Focus Brands Funding LLC) series 2024-1 issuance is a $125.00 million corporate securitization of GoTo Foods LLC's (GoTo) business. Based in Atlanta, GoTo is a limited-service restaurant (LSR) company in the quick-service and fast-casual segments, engaged in the business of operating and franchising a system of seven distinct brands. As of June 30, 2024, 98% of GoTo's 6,620 units are franchised, with approximately 1,760 franchisees operating 6,511 units. GoTo's global systemwide sales totaled $4.2 billion the last 12 months ended June 30, 2024, across all 50 states and over 60 foreign countries and territories. The series 2024-1 senior notes will be the sixth series issued by GoTo Foods Funding LLC (the master issuer) since 2017. The proceeds of the series 2024-1 issuance will be used for general corporate purposes along with fees and expenses associated with the issuance. Table 1 shows the series 2024-1 issuance's impact on leverage, while table...
