Jack in the Box moves forward with planned ABS despite franchisee objections

Quick burger - for GC web
By Jennifer Kang
17 Jun 2019

Fast food franchise Jack in the Box revealed its plan to refinance the company’s existing senior credit facility with a new securitized financing facility, despite strong opposition from the chain's franchisees.

As of April 2019, the company has $315m outstanding under the term loan and $739.4m outstanding under the revolving credit facility. The new $1.45bn securitized financing facility will include $150m variable funding notes and $1.3bn senior fixed-rate term loans, according to a press release published on Monday.

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