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(Exact name of registrant as specified in its charter)
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification Number)
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(Address of principal executive offices) (Zip Code)
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(
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Not Applicable
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(Former name or former address, if changed since last report)
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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(NASDAQ Global Select Market)
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Item 8.01
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OTHER EVENTS.
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Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits
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Exhibit No.
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Title
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JACK IN THE BOX INC.
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By:
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/s/ Tim Mullany | ||
Tim Mullany | |||
Chief Financial Officer |
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Exhibit 99.1
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SAN DIEGO--(BUSINESS WIRE)--January 26, 2022--Jack in the Box Inc. (NASDAQ: JACK) today announced that certain of its subsidiaries intend to complete a financing transaction, which will consist of refinancing a portion of the Company’s outstanding securitization debt with the issuance of a new series of securitized notes under the Company’s existing securitized financing facility. The Company also expects these subsidiaries to enter into a new variable funding note facility.
The Company’s outstanding securitization debt is currently comprised of the following tranches:
As of October 3, 2021, $1.29 billion was outstanding under the Series 2019-1 Class A-2 Notes, and no borrowings were outstanding under the Series 2019-1 Variable Funding Notes.
The Company intends to refinance a portion of the Series 2019-1 Class A-2 Notes and the Series 2019-1 Variable Funding Notes with a new $1.25 billion securitized financing facility, expected to be comprised of $1.1 billion of senior secured fixed rate notes (the “2022 Notes”) and $150.0 million of variable funding notes (collectively, the “Notes”).
The net proceeds of the securitized financing facility are expected to be used:
In connection with the Del Taco Acquisition, the Company does not currently expect to increase its net funded debt level as a result of any borrowings outside of the securitized financing facility.
The consummation of the offering is subject to market and other conditions and is anticipated to close in February 2022. However, there can be no assurance that the Company will be able to successfully complete the financing transaction on the terms described or at all.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security. The Notes to be offered have not been, and will not be, registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933.
About Jack in the Box Inc.
Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, is a restaurant company that operates and franchises Jack in the Box® restaurants, one of the nation’s largest hamburger chains, with more than 2,200 restaurants in 21 states and Guam. For more information on franchising opportunities with Jack in the Box, visit JackintheBoxFranchising.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “goals,” “guidance,” “intend,” “plan,” “project,” “may,” “will,” “would” and similar expressions. These statements are based on management’s current expectations, estimates, forecasts and projections about our business and the industry in which we operate. These estimates and assumptions involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. Factors that may cause our actual results to differ materially from any forward-looking statements include, but are not limited to: the potential impacts to our business and operations resulting from the COVID-19 pandemic, the success of new products, marketing initiatives and restaurant remodels and drive-thru enhancements; the impact of competition, unemployment, trends in consumer spending patterns and commodity costs; the company’s ability to achieve and manage its planned growth, which is affected by the availability of a sufficient number of suitable new restaurant sites, the performance of new restaurants, risks relating to expansion into new markets and successful franchise development; the ability to attract, train and retain top-performing personnel, litigation risks; risks associated with disagreements with franchisees; supply chain disruption; food-safety incidents or negative publicity impacting the reputation of the company's brand; increased regulatory and legal complexities, including federal, state and local policies regarding mitigation strategies for controlling the COVID-19 pandemic, risks associated with the amount and terms of the securitized debt issued by certain of our wholly owned subsidiaries; and stock market volatility. These and other factors are discussed in the company’s annual report on Form 10-K and its periodic reports on Form 10-Q filed with the Securities and Exchange Commission, which are available online at http://investors.jackinthebox.com or in hard copy upon request. The company undertakes no obligation to update or revise any forward-looking statement, whether as the result of new information or otherwise.
Chris Brandon
619.902.0269
chris.brandon@jackinthebox.com
Document and Entity Information |
Jan. 26, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jan. 26, 2022 |
Entity Registrant Name | JACK IN THE BOX INC. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 1-9390 |
Entity Tax Identification Number | 95-2698708 |
Entity Address, Address Line One | 9357 Spectrum Center Blvd |
Entity Address, City or Town | San Diego |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92123 |
City Area Code | 858 |
Local Phone Number | 571-2121 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0000807882 |
Title of 12(b) Security | Common Stock |
Trading Symbol | JACK |
Security Exchange Name | NASDAQ |
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