Foodmaker (Jack-in-the-Box Restaurants) Message Board

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Non-Tech : Foodmaker (Jack-in-the-Box Restaurants)

FM 27.19

0.0%

Jan 8 4:00 PM EST

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To: Arnie Doolittle who wrote (309)	3/4/1998 10:37:00 PM
From: David Kuspa	Read Replies (1) of 338

Hal Sachs returned my phone call today. He would not issue any estimates of how the debt retirement will affect per share earnings, and prefers to wait until the analysts do their work. I mentioned that FM would probably have done another $50 million debt retirement by this summer even if they hadn't received the settlement from the Vons lawsuit. He agreed, and said that while they hadn't done a press release on it yet, he was guiding the analysts with news of another debt retirement coming up. FM is on track to retire an ADDITIONAL $50 million (the remainder of those senior notes, I believe he said) about one month after this announced $75 million retirement, around May 15th. He must have been referring to the $125 million in 9 1/4% notes due in 1999; they still have another $125 million in 9 1/4% notes due in 2002, along with other debt. So by the summer (best quarter), FM should be rocking and rolling with a new balance sheet "lite" version. Now, he did caution that some of this retirement is due to other bank re-financing, and I guess we'll learn the details as the deals are hashed out. Arnie, perhaps you have more insight on this. D. Kuspa

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