Jack in the Box completes $500M securitized debt refinancing

Jack in the Box Inc. (NASDAQ: JACK) has completed the sale of $500 million in Series 2026-1 7.624% Fixed Rate Senior Secured Notes, Class A-2, through one of its indirect, limited-purpose subsidiaries.

The proceeds are expected to be used to repay in full the company's existing Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II, and to partially repay the Series 2022-1 3.445% Fixed Rate Senior Secured Notes, Class A-2-I.

Mark King, Executive Chairman and Interim Chief Executive Officer, said in a statement: "We are pleased to have cleared our near-term maturities, with our next anticipated repayment date in 2029, supporting our focus on sustainable value creation."

Alongside the notes offering, the subsidiary entered into a purchase agreement to issue up to $150 million in Series 2026-1 Variable Funding Senior Secured Notes, Class A-1, which will allow borrowing on a revolving basis. These notes replace the company's existing $150 million Series 2022-1 Variable Funding Senior Secured Notes, Class A-1.

Jack in the Box operates and franchises approximately 2,128 restaurants across 24 states, Guam, and Mexico.

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