Jack in the Box (NASDAQ: JACK) targets $236.4M 2026 debt reduction
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Jack in the Box Inc. plans a significant debt refinancing and reduction as part of its “JACK on Track” plan. The company intends to repay $110 million of its Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II on June 10, 2026, using cash on hand and company-owned life insurance policy assets.
After this payment, total debt reduction in 2026 is expected to reach $236.4 million, and outstanding securitized debt is expected to be about $1.5 billion across its Series 2019-1 and 2022-1 Class A-2 Notes. Certain subsidiaries also intend to complete a refinancing made up of $500 million of senior secured fixed rate notes and $150 million of variable funding notes, with proceeds expected to refinance existing Series 2019-1 and 2022-1 notes and related variable funding notes and cover transaction costs.
The company states that debt reduction and capital structure optimization remain priorities to support financial flexibility and long-term growth, while noting the planned offering is subject to market and other conditions and may not be completed on the terms described or at all.
Positive
- Meaningful 2026 debt reduction: Planned repayment of $110 million of Series 2019-1 notes brings expected total 2026 debt reduction to $236.4 million and lowers outstanding securitized debt to about $1.5 billion, supporting the company’s stated goal of strengthening its financial foundation.
Negative
- None.
Insights
Jack in the Box targets sizeable 2026 debt cuts and refinancing.
Jack in the Box Inc. outlines a multi-step plan to reshape its securitized debt. It plans to repay $110 million of Series 2019-1 Class A-2-II notes in June 2026, contributing to total 2026 debt reduction of $236.4 million and lowering securitized balances to about $1.5 billion.
The company’s subsidiaries then aim to issue $500 million of senior secured fixed rate notes plus $150 million of variable funding notes. Proceeds are expected to refinance portions of the Series 2019-1 and 2022-1 Class A-2 Notes and the Series 2022-1 Variable Funding Notes and pay transaction costs, aligning with its focus on capital structure optimization.
The transaction’s impact ultimately depends on execution and market conditions. Management notes that consummation of the offering is subject to market and other conditions and that there is no assurance the refinancing will be completed on the described terms or timing, so future disclosures will clarify the final structure and scale.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Planned note repayment: $110 million
Total 2026 debt reduction: $236.4 million
Outstanding securitized debt: $1.5 billion (approximately)
+3 more
6 metrics
Planned note repayment
$110 million
Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II, June 10, 2026
Total 2026 debt reduction
$236.4 million
Includes amortization and June 2026 repayment
Outstanding securitized debt
$1.5 billion (approximately)
Post-repayment balance under Series 2019-1 and 2022-1 Class A-2 Notes
Planned senior secured fixed rate notes
$500 million
New series of securitized notes in refinancing transaction
Planned variable funding notes
$150 million
New variable funding note facility in refinancing
Restaurant count
2,128 restaurants
Jack in the Box system size across 24 states, Guam and Mexico
Key Terms
securitized notes, variable funding notes, senior secured fixed rate notes, securitized financing facility, +1 more
5 terms
securitized notes financial
"issuance of a new series of securitized notes under the Company’s existing securitized financing facility"
Securitized notes are loans sold to investors that are paid from the cash flows of a pool of underlying assets—such as mortgages, car loans, or business receivables—rather than from a single borrower. Think of buying a slice of a pie made from many loans: you get a share of the income and take on a share of the risk, including defaults or early repayments. Investors watch these for higher yields than plain bonds but must weigh the credit quality of the underlying assets and the deal’s structure, which affects how losses are absorbed.
variable funding notes financial
"expects these subsidiaries to enter into a new variable funding note facility"
Variable funding notes are short-term debt instruments that function like adjustable-rate IOUs issued by a borrower to raise cash for a limited period. The interest rate or repayment schedule can change over time, similar to a loan with a variable interest rate, so they help issuers manage short-term funding needs. Investors care because these notes affect liquidity, yield and credit exposure — higher income potential can come with greater interest-rate and repayment risk.
senior secured fixed rate notes financial
"expected to be comprised of $500 million of senior secured fixed rate notes"
Debt securities that act like a loan a company takes from investors, backed by specific collateral and given top priority for repayment if the company defaults. They pay a fixed interest rate for a set term, so investors receive predictable income but face the usual risks from changes in market interest rates and the issuer's ability to repay. Because they are both secured and senior, they are generally less risky than unsecured or junior debt, which matters when deciding how to balance yield versus safety.
securitized financing facility financial
"under the Company’s existing securitized financing facility"
A securitized financing facility is a loan or line of credit that is backed by a pool of financial assets—such as loans, leases, or receivables—packaged together and used as collateral. Think of it like borrowing money against a bundled set of IOUs: the lender looks to the payments from that bundle, not the borrower’s general cash, for repayment. Investors watch these facilities because they affect a company’s access to cash, the risk that asset payments will fall short, and how much debt appears on the balance sheet.
forward-looking statements regulatory
"This press release contains forward-looking statements within the meaning of the federal securities laws."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
_____________________________________________________________________________________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 8, 2026
(Exact name of registrant as specified in its charter)
_________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||
(Address of principal executive offices) (Zip Code)
(858 ) 571-2121
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
_________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
______________________________________________________________________
Item 8.01 Other Events.
On June 8, 2026, Jack in the Box Inc. (the “Company”) issued a press release announcing the intent of certain of its subsidiaries to complete a financing transaction, which will consist of refinancing a portion of its 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. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | ||||
| 99.1 | Press Release of Jack in the Box Inc. dated June 8, 2026 | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| JACK IN THE BOX INC. | |||||||||||
| June 8, 2026 | /s/ Dawn Hooper | ||||||||||
| Dawn Hooper | |||||||||||
| EVP, Chief Financial Officer | |||||||||||
Exhibit 99.1
 | Contact: Rachel Webb Vice President, Finance & Investor Relations rachel.webb@jackinthebox.com (858) 522-4556 | |||||||
Press Release
Jack in the Box Inc. Announces Refinancing Transaction and Debt Reduction
Company to Repay $110 Million of Existing Series 2019-1 Notes
SAN DIEGO – June 8, 2026 – Jack in the Box Inc. (NASDAQ: JACK) today announced actions expected to reduce outstanding debt and further optimize its capital structure through the ongoing execution of its “JACK on Track” plan.
First, the Company intends to repay $110 million of its existing Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II on June 10, 2026, ahead of the anticipated repayment date of August 2026. The repayment will be funded through a combination of cash on hand and excess funding from company-owned life insurance policy assets. Upon completion, the repayment will bring the Company’s total debt reduction in 2026 to $236.4 million, inclusive of amortization payments, and reduce outstanding securitized debt to approximately $1.5 billion outstanding under the Series 2019-1 Class A-2 Notes and the Series 2022-1 Class A-2 Notes. No borrowings are currently outstanding under the Series 2019-1 Variable Funding Notes, although the facility supports certain outstanding letters of credit.
Following this repayment, certain of the Company’s subsidiaries intend to complete a refinancing transaction expected to be comprised of $500 million of senior secured fixed rate notes and $150 million of variable funding notes (collectively, the “Notes”) with proceeds expected to be used to refinance the Series 2019-1 Class A-2 Notes, a portion of the Series 2022-1 Class A-2 Notes, and the Series 2022-1 Variable Funding Notes in full and to pay transaction costs associated with the new securitized financing facility.
“Debt reduction remains a priority, and these actions mark another important step in strengthening Jack in the Box’s financial foundation and accelerating our strategic execution,” said Mark King, Executive Chairman and Interim Chief Executive Officer of Jack in the Box Inc. “As we continue to advance our ‘JACK on Track’ initiatives, we are focused on optimizing our capital structure to enhance financial flexibility and deliver sustainable growth.”
The consummation of the offering is subject to market and other conditions and is expected to close in the third quarter. However, there can be no assurance that the Company will be able to successfully complete the refinancing 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), founded and headquartered in San Diego, California, is a restaurant company that operates and franchises Jack in the Box®, one of the nation's largest hamburger chains with approximately 2,128 restaurants across 24 states, Guam and Mexico. For more information, including franchising opportunities, visit www.jackinthebox.com.
Safe Harbor Statement
Exhibit 99.1
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 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, risks associated with the amount and terms of the securitized debt issued by certain of our wholly owned subsidiaries; 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.
Contact:
Rachel Webb
858-522-4556
rachel.webb@jackinthebox.com
FAQ
What debt repayment did Jack in the Box (JACK) announce in June 2026?
Jack in the Box plans to repay $110 million of its Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II, on June 10, 2026. The repayment will be funded with cash on hand and excess company-owned life insurance policy assets.
How much total debt reduction does Jack in the Box (JACK) expect in 2026?
The company expects total debt reduction in 2026 of $236.4 million, including amortization payments and the planned $110 million repayment. This reduction is part of its “JACK on Track” plan to strengthen its balance sheet and optimize its capital structure.
What refinancing transaction is Jack in the Box (JACK) planning?
Certain subsidiaries intend to complete a refinancing that includes $500 million of senior secured fixed rate notes and $150 million of variable funding notes. Proceeds are expected to refinance existing Series 2019-1 and 2022-1 Class A-2 Notes and the Series 2022-1 Variable Funding Notes and pay transaction costs.
How much securitized debt will Jack in the Box (JACK) have outstanding after the 2026 repayment?
After the planned June 2026 repayment, outstanding securitized debt is expected to be approximately $1.5 billion under the Series 2019-1 Class A-2 Notes and the Series 2022-1 Class A-2 Notes. This reflects cumulative 2026 debt reduction of $236.4 million.
Is Jack in the Box’s (JACK) new notes offering guaranteed to close?
No, the company states that consummation of the offering is subject to market and other conditions and is expected to close in the third quarter. It cautions there is no assurance the refinancing will be completed on the terms described or at all.
How does the refinancing support Jack in the Box’s (JACK) strategy?
Management links the refinancing and debt repayment to its “JACK on Track” plan, emphasizing debt reduction and capital structure optimization. The goal is to strengthen the company’s financial foundation, enhance flexibility, and support sustainable growth across its restaurant system.