Jack in the Box Inc. completed a new five-year $800 million senior credit facility made up of a $600 million revolving credit line and a $200 million term loan.

Proceeds from the refinancing will be used to retire the previous $600 million senior credit facility due in November 2017. As of the closing, about $243 million of the revolving credit line was drawn or used for letters of credit, while $200 million will be outstanding on the term loan. Both will mature in March 2019.

The new credit agreement provides a flexible, longer-term capital structure to support the company’s strategic plan, including additional potential to return cash to shareholders, said Jerry Rebel, chief financial officer for Jack in the Box (Nasdaq: JACK).

“Refinancing enables us to take advantage of lower rates while adding $200 million in additional borrowing capacity,” Rebel said.

The interest on the new credit facility, which depends on the company’s leverage ratio, can range from Libor plus 1.25 percent to 2 percent with no Libor floor. The initial interest is Libor plus 1.75 percent.

Lead arrangers and joint lead bookrunners were Wells Fargo Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.