Loan & DebtJun 8, 2026, 10:01 AM
Jack in the Box to repay $110M debt, refinance $650M notes
AI Summary
Jack in the Box Inc. announced plans to repay $110 million of its Series 2019-1 4.476% Fixed Rate Senior Secured Notes ahead of schedule, bringing its total debt reduction in 2026 to $236.4 million. Following this, the company's subsidiaries intend to complete a refinancing transaction, issuing $500 million in senior secured fixed rate notes and $150 million in variable funding notes. The proceeds will be used to refinance existing securitized debt, further optimizing its capital structure under the "JACK on Track" plan.
Key Highlights
- Jack in the Box to repay $110 million of Series 2019-1 4.476% Fixed Rate Senior Secured Notes.
- This repayment brings total debt reduction in 2026 to $236.4 million, including amortization payments.
- Outstanding securitized debt will be reduced to approximately $1.5 billion.
- Company subsidiaries intend to issue $500 million in new senior secured fixed rate notes.
- Company subsidiaries intend to issue $150 million in new variable funding notes.
- Proceeds from new notes will refinance Series 2019-1 Class A-2 and Series 2022-1 Class A-2/Variable Funding Notes.
- The refinancing transaction is expected to close in the third quarter of 2026.
Price Impact
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