Loan & DebtJun 23, 2026, 04:07 PM
Jack in the Box Issues $500M Secured Notes, $150M Revolving Debt
AI Summary
Jack in the Box Inc., through its indirect subsidiary Jack in the Box Funding, LLC, completed a $500 million securitized financing facility by issuing Series 2026-1 7.624% Fixed Rate Senior Secured Notes. Concurrently, it established a revolving financing facility for up to $150 million in Variable Funding Senior Secured Notes. The proceeds will be used to repay existing debt, supporting the company's 'JACK on Track' plan to strengthen its balance sheet and clear near-term maturities.
Key Highlights
- Issued $500 million Series 2026-1 7.624% Fixed Rate Senior Secured Notes, Class A-2.
- Established a revolving financing facility for up to $150 million Variable Funding Senior Secured Notes.
- Proceeds will repay existing Series 2019-1 4.476% Notes and a portion of Series 2022-1 3.445% Notes.
- Anticipated repayment date for the new fixed-rate notes is May 2031.
- Initial draw of $39 million on Variable Funding Notes; $56 million in undrawn letters of credit.
Price Impact
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