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GE Capital Leads $95 Million Financing for Restaurant Franchisee JIB Management - Funds expansion into El Pollo Loco and Corner Bakery brands - GEFranchiseFinance.com
GE Capital Leads $95 Million Financing for Restaurant Franchisee JIB Management

 

NewswireToday - /newswire/ - Scottsdale, AZ, United States, 2014/11/12 - Funds expansion into El Pollo Loco and Corner Bakery brands - GEFranchiseFinance.com. NYSE: GE

   
 
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GE Capital’s Franchise Finance business announced today that it has provided a $95 million senior credit facility to JIB Management, Inc. A portion of the funding was provided by GE Capital’s bank affiliate, GE Capital Bank. GE Capital Markets acted as sole lead arranger and bookrunner and City National Bank was co-documentation agent.

JIB will use the majority of the funds to refinance existing debt. It will use the remainder to acquire and develop new El Pollo Loco restaurants in the San Antonio and Houston markets, and to develop Corner Bakery restaurants in the Las Vegas and Seattle markets.

Based in Fremont, CA, JIB is the largest domestic Jack in the Box franchisee with 221 restaurants, which amount to about 10% of the system’s units. It also operates 35 Denny’s restaurants, and six Sizzler restaurants.

“I’m grateful to GE Capital for helping finance my company’s expansion into two new brands to further diversify our operations,” said Anil Yadav, JIB’s founder. “Working with an experienced lender means I have a financial resource that really understands my business.”

GE Capital has had a relationship with JIB since 2003.

“JIB’s executive management team has a wealth of combined operating experience and a solid history of acquisitions and restaurant development,” said Trey Brown, sales leader of GEFF. “We’re pleased to see a long-time customer growing and thriving.”

The transaction was originated by Todd Cortell, a senior vice president with GEFF responsible for restaurant financing in the West region.

About GE Capital, Franchise Finance

GE Capital, Franchise Finance (gefranchisefinance.com) is a leading lender for the U.S. franchise finance market via direct sales and portfolio acquisitions. With more than 30 years of experience and over $6 billion in served assets, it provides financing to more than 2,000 customers and 14,000 properties. The business specializes in financing mid-market operators with multiple stores in the restaurant and hospitality industries. Its team of industry experts helps them realize their individualized growth plans. GE Capital, Franchise Finance customers also receive access to its proprietary industry research and cutting-edge digital tools.

GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services.

GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

 
 
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GE Capital Leads $95 Million Financing for Restaurant Franchisee JIB Management

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GE News Center | JIB Management
Publisher Contact: Lisa Tibbitts - GE Capital Americas 
203-956-4582 lisa.tibbitts[.]ge.com
 
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