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Jack in the Box announces securitization, says it looked for buyers

Jack in the Box Inc. 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%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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