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GE Capital, Franchise Finance Provides $91 Million to Jack in the Box and Denny’s Franchisee, JIB Management, Inc. - Funds the refinancing of existing debt
GE Capital, Franchise Finance Provides $91 Million to Jack in the Box and Denny’s Franchisee, JIB Management, Inc.

 

PRZOOM - /newswire/ - Scottsdale, AZ, United States, 2012/03/06 - Funds the refinancing of existing debt. NYSE: GE

   
 
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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. The financing, primarily to refinance existing debt, 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. JIB Management was represented by the Law Office of Sanjay Ahuja in this transaction.

Based in Fremont, California, 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.

“We are pleased to be able to deliver one of the largest, non-sponsor-owned franchisee syndications in recent history of restaurant financing,” explained Todd Cortell, senior vice president, GE Capital, Franchise Finance. “On top of that, our relationship with the Jack in the Box and Denny’s brands enabled us to close on this complex deal in a short period of time.”

About GE Capital, Franchise Finance
GE Capital, Franchise Finance (gefranchisefinance.com) is a leading lender for the franchise finance market via direct sales and portfolio acquisition. With more than 30 years of experience and $10 billion in served assets, we serve over 3,000 customers and over 18,000 property locations. We specialize in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Our team of industry experts will work with you to help develop your own growth plan with access to our proprietary industry research and customized tools.

PRESS Contact
Molli Megasko - Arment Dietrich, Inc.
P: (312) 787-7249 - E: mmegasko[.]armentdietrich.com.

 
 
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GE Capital, Franchise Finance Provides $91 Million to Jack in the Box and Denny’s Franchisee, JIB Management, Inc.

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