Jack in the Box to repay term loan debt via proceeds from Qdoba sale

By Sarah Lizee

Olympia, Wash., Dec. 19 – Jack in the Box Inc. plans to retire outstanding debt under its term loan using proceeds from the sale of its wholly owned subsidiary, Qdoba Restaurant Corp., according to a press release.

The company said on Tuesday that it entered into a definitive agreement to sell Qdoba to certain funds managed by affiliates of Apollo Global Management, LLC for about $305 million in cash.

The transaction is expected to close by April.

Jack in the Box is a fast-food restaurant company based in San Diego.

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