Jack in the Box Inc. has completed a $500 million securitized financing facility through an indirect subsidiary. The Master Issuer sold $500 million of Series 2026-1 7.624% Fixed Rate Senior Secured Notes, Class A-2, with proceeds intended to fully repay the existing Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II and partially repay the Series 2022-1 3.445% Fixed Rate Senior Secured Notes, Class A-2-I. Executive Chairman and Interim CEO Mark King said the refinancing clears near-term maturities, with the next anticipated repayment date in 2029. The Master Issuer also entered into a purchase agreement to issue up to $150 million of Series 2026-1 Variable Funding Senior Secured Notes, Class A-1, replacing the existing $150 million Series 2022-1 Variable Funding Senior Secured Notes, Class A-1.
Jack in the Box Inc.Completed $500M refinancing at higher rate but extends maturities to 2029, improving debt profile.