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): January 22, 2003
JACK IN THE BOX INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 1-9390 95-2698708
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(State of Incorporation) (Commission File I.R.S. Employer Identification
Number) Number)
9330 BALBOA AVENUE, SAN DIEGO, CA 92123
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (858) 571-2121
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On January 22, 2003, Jack in the Box Inc. (the "Company") entered into a
new $350 million senior credit facility arranged by Wachovia Securities (the
"New Credit Facility"). The new financing comprises a $200 million revolving
credit facility with a three year term and an initial rate of London Interbank
Offered Rate ("LIBOR") plus 2.25 percent, and a $150 million term loan to be
amortized over 4.5 years at an initial rate of LIBOR plus 3.25 percent. The
Company's obligations under the New Credit Facility are guaranteed by certain
subsidiaries. The Company and each of its certain subsidiaries granted liens in
substantially all of their personal property assets to secure their respective
obligations under the New Credit Facility. Under certain circumstances, the
Company and each of its certain subsidiaries will be required to grant liens in
certain real property assets to secure their respective obligations under the
New Credit Facility.
The New Credit Facility replaces a $175 million revolving credit facility
which was due to expire March 31, 2003. Proceeds from the New Credit Facility at
closing were used to repay the Company's old credit facility. Additional
proceeds from the New Credit Facility will be used for general corporate
purposes, including letters of credit, working capital, capital expenditures,
and costs associated with the Company's recent acquisition of Qdoba Restaurant
Corporation.
The Credit Agreement with respect to the New Credit Facility is attached
hereto as Exhibit 99.2 and is incorporated herein by reference. The foregoing
summary does not purport to be complete and is qualified in its entirety by
reference to the Credit Agreement.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
ITEM 7(c) Exhibits. The following exhibits are filed with this report.
Number Description
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99.1 Press release issued January 22, 2003
99.2 Credit Agreement dated as of January 22, 2003 by and among
Jack in the Box Inc. and the lenders named therein
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 hereunto duly authorized.
JACK IN THE BOX INC.
By: JOHN F. HOFFNER
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John F. Hoffner
Executive Vice President
Chief Financial Officer
Principal Financial Officer)
(Duly Authorized Signatory)
Date: February 6, 2003
EXHIBIT INDEX
Number Description
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99.1 Press release issued January 22, 2003
99.2 Credit Agreement dated as of January 22, 2003 by and
among Jack in the Box Inc. and the lenders named
therein