This is a routine refinancing of Jack in the Box's asset-backed securitization facility. No new equity or debt capital was raised. Monitor the next 10-Q for any changes in leverage ratios or cash flow coverage metrics. The $80M LC facility supports ongoing franchise operations and interest reserve requirements.
Price Chart
Executive Summary
Jack in the Box Funding, LLC entered into a Second Supplement to its Base Indenture (dated June 23, 2026) to amend the securitization trust structure, and concurrently executed a new Series 2026-1 Class A-1 Note Purchase Agreement with a bank group led by Rabobank. The new agreement establishes a $25M swingline facility, an $80M letter of credit subfacility (including interest reserve LCs), and a revolving advance facility. The LC Commitment is $80M, and the Swingline Commitment is $25M. The filing also terminates the prior Series 2022-1 Class A-1 Note Purchase Agreement (Item 1.02) and creates a new direct financial obligation (Item 2.03). This is a routine refinancing of the company's asset-backed securitization facility, not a new-money event. No financial figures (revenue, EPS, margins) are provided in the filing.
Key Financial Metrics
Key Facts
- Second Supplement to Base Indenture dated June 23, 2026 amends the securitization trust indenture.
- New Series 2026-1 Class A-1 Note Purchase Agreement executed with Rabobank as administrative agent, swingline lender, and LC provider.
- Swingline Commitment: $25,000,000.
- LC Commitment: $80,000,000 (includes Interest Reserve Letters of Credit).
- Prior Series 2022-1 Class A-1 Note Purchase Agreement terminated (Item 1.02).
- New direct financial obligation created under the Series 2026-1 facility (Item 2.03).
- Midland Loan Services (PNC) remains Control Party and consented to the supplement.
- No financial performance data (revenue, earnings, guidance) included in the filing.
Financial Impact
Routine refinancing of existing securitization facility; no new capital raised. Swingline facility of $25M and LC facility of $80M established.
Risk Factors
- No material risk identified from this routine refinancing.
- The company's $218M market cap and 38% analyst bullish rating suggest limited near-term catalysts from this filing.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 2 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000807882-26-000079 |
| Exhibit: ex101-2026x1classax2notepu.htm | 0000807882-26-000079 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 20, 2026 9w ago | 8-K | $16.60 $15.90 | ▼ −4.22% | ▼ −5.33% | $11.23 (−32.35%) |
Jul 7, 2026 15w ago | 8-K | $14.42 $15.20 | ▲ +5.41% | ▲ +4.55% | $11.23 (−22.12%) |
Jun 23, 2026 17w ago | 8-K | $13.35 $17.41 | ▲ +30.41% | ▲ +28.70% | $11.23 (−15.88%) |
Jun 15, 2026 19w ago | 8-K | $12.92 $11.41 | ▼ −11.69% | ▼ −10.30% | $11.23 (−13.08%) |
Jun 11, 2026 19w ago | Institutional Cluster | $12.44 $12.40 | ▲ +0.32% | ▲ +0.76% | $11.23 (+9.73%) |
Jun 8, 2026 20w ago | 8-K | $11.58 $12.92 | ▲ +11.57% | ▲ +9.46% | $11.23 (−3.02%) |
May 29, 2026 21w ago | 8-K | $12.45 $11.95 | ▼ −4.02% | ▼ −3.72% | $11.23 (−9.80%) |
May 13, 2026 23w ago | 8-K | $10.98 $11.35 | ▼ −3.37% | ▼ −4.09% | $11.23 (−2.28%) |
May 4, 2026 25w ago | Insider Cluster | $12.05 $13.40 | ▲ +11.20% | ▲ +8.27% | $11.23 (−6.80%) |
May 4, 2026 25w ago | Insider Cluster | $12.05 $13.40 | ▲ +11.20% | ▲ +8.27% | $11.23 (−6.80%) |
US Market Status
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