Jack in the Box announces securitization, says it looked for buyers
Jack in the Box Inc. (JACK) said late Wednesday it will pursue a new capital structure, planning to replace its existing credit facility with securitization, after which it intends to resume buying its shares in the open market. That was the conclusion of a "wide-ranging" review of strategic and financing alternatives, the company said. Those alternatives also included looking for potential buyers, the company said, but stopped short of saying why a sale didn't pan out at this time. Jack in the Box reaffirmed its long-term guidance, saying it expects sales of about $4 billion in fiscal 2022. Shares of Jack in the Box were down 0.4% in the extended session after ending the regular trading day up 0.6%.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 15, 2019 16:21 ET (20:21 GMT)
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