Burger-Backed Bonds: Companies Scramble To Securitize Everything [zero hedge]
Jack In The Box Inc. (JACK)
Last jack in the box inc. earnings: 2/19 04:05 pm
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US:NASDAQ Investor Relations:
investors.jackinthebox.com/investor-overview
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Source: zero hedge
In a world of negative interest rates, any asset that can generate even the smallest positive yield is cherished by investors. The result is a macabre return to the days just before the 2007 credit bubble burst, when virtually any asset was converted into a "security", and as a result of this wholesale rush to securitize, we are now seeing a bizarre scramble by businesses like fast-food chains to mortgage essentially all their assets.Call them "burger-backed bonds."According to Bloomberg, franchised companies like burger restaurant Jack in the Box and massage provider Massage Envy are increasingly selling unusual bonds backed by most of their business. The strategy is simple: collateralize everything in hopes of paying a lower interest rate. By pledging virtually all core assets like royalties, fees, and intellectual property to bondholders, companies can win investment-grade credit ratings on their debt and slash their financing costs, making their bonds higher quality even if their
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News
- LEGENDARY MEDIA & MARKETING DEALMAKER MICHAEL KASSAN TO SPEAK AT 2024 OOH MEDIA CONFERENCE [Yahoo! Finance]Yahoo! Finance
- How I Got Here: Burge Diemer [Yahoo! Finance]Yahoo! Finance
- Here's Why Jack In The Box (JACK) is a Strong Value Stock [Yahoo! Finance]Yahoo! Finance
- Fast-food franchisees in California fear they'll lose customers to Chili's and Applebee's as prices soar over $20 wage [Business Insider]Business Insider
- L.A. public health officials issue measles exposure warning for Universal Studios, other locations [Los Angeles Times (CA)]Los Angeles Times
JACK
Earnings
- 2/21/24 - In-Line
JACK
Sec Filings
- 3/27/24 - Form 4
- 3/27/24 - Form 4
- 3/27/24 - Form 4
- JACK's page on the SEC website