JACK IN THE BOX INC 8-K

What Happened

• On June 12, 2026 Jack in the Box Inc. and certain wholly owned subsidiaries (including Jack in the Box Funding, LLC) entered a Purchase Agreement to issue $500 million of Series 2026‑1 7.624% Fixed Rate Senior Secured Notes, Class A‑2, in a privately placed securitization. The sale is expected to close in June 2026, interest is payable quarterly, and the anticipated repayment date is May 2031. If not repaid by that date, additional interest will accrue equal to the greater of (A) 5.00% per annum or (B) a Treasury‑linked formula described in the indenture. The company issued a press release on June 15, 2026 announcing the transaction and has issued a notice of prepayment for its Series 2019‑1 4.476% Class A‑2‑II notes, subject to completion of the 2026 notes sale.

Key Details

• Amount: $500,000,000 Series 2026‑1 Class A‑2 notes
• Coupon: 7.624% fixed, interest paid quarterly
• Maturity / anticipated repayment date: May 2031 (unless prepaid earlier)
• Additional interest if not repaid by anticipated date: greater of 5.00% p.a. or a Treasury‑based formula noted in the indenture
• Parties: Issuer is Jack in the Box Funding, LLC (master issuer); guarantors include Jack in the Box SPV Guarantor, Different Rules, LLC, and Jack in the Box Properties, LLC; Purchase Agreement dated June 12, 2026

Why It Matters

• This is a new securitized financing that provides up to $500M of capital through a special‑purpose issuer, which can affect the company’s liquidity and secured debt profile.
• The prepayment notice for the Series 2019‑1 notes indicates the company intends to retire that earlier note series upon completion of this transaction.
• Investors should note the relatively high coupon (7.624%) and the specific post‑maturity interest provisions, as these terms influence Jack in the Box’s future interest obligations and capital structure.