Jack In The Box Stock Rises 16%

(RTTNews) - Jack in the Box Inc. (JACK) stock rose 16.41 percent, gaining $1.90 to $13.48 on Wednesday, likely following the company's announcement yesterday that it completed the sale of $500 million of 7.624% fixed-rate senior secured notes.

The stock is currently trading at $13.48, compared with its previous close of $11.58. Shares opened at $12.57 and traded between $12.50 and $13.97 during the session. Trading volume reached 688,758 shares, compared with the average daily volume of 835,348 shares.

The proceeds will be used to fully repay its Series 2019-1 notes and partially repay its Series 2022-1 notes, extending the company's debt maturity profile and supporting its balance sheet improvement strategy under the "JACK on Track" plan.

JACK shares have traded between $8.92 and $25.34 over the past 52 weeks.