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