JACK - Jack in the Box prices $1.1B in securitized financing facility

Jack in the Box (NASDAQ:JACK)  entered into a purchase agreement wherein one of its indirect, special purpose subsidiaries agreed to issue and sell $550M of its Series 2022-1 3.445% Fixed Rate Senior Secured Notes, Class A-2-I and $550M of its Series 2022-1 4.136% Fixed Rate Senior Secured Notes, Class A-2-II. Interest payments on the 2022 Notes are payable on a quarterly basis. Expected repayment dates of both the notes will be February 2027 and February 2032. Net proceeds to be used for repaying in full its existing fixed rate senior notes, Class A-2-I and to distribute to Jack in the Box SPV Guarantor and also to partially fund the company's acquisition of Del Taco Restaurants. The special purpose subsidiaries also plans to enter into a new purchase agreement wherein it will issue $150M of its Series 2022-1 Variable Funding Senior Secured Notes, Class A-1. Notes closing is expected to occur in

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Jack in the Box prices $1.1B in securitized financing facility