GE Capital, Franchise Finance provided a $91 million senior agented credit facility to JIB Management Inc., a Jack in the Box and Denny's franchise company, primarily to refinance existing debt.
The financing included a syndicated $81 million term loan and a $10 million development line of credit. A portion of the funding was provided through GE Capital's bank affiliate, GE Capital Financial Inc. GE Capital Markets was the sole lead arranger and bookrunner.
"GE Capital's knowledge of the industry, and of JIB Management, enabled them to complete a comprehensive, $91 million credit facility that included a strong syndicate of banks that provided us with a development loan for future growth," said Anil Yadav, president, JIB Management Inc.
Based in Fremont, Calif., JIB Management is one of the largest multi-unit franchise companies in the country with 216 Jack in the Box units throughout California and Texas and 29 Denny's restaurants in Northern California.
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