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Aramark borrows remaining $230 million under revolving facility
By Sarah Lizee
Olympia, Wash., March 19 – Aramark subsidiary Aramark Services Inc. borrowed the remaining $230 million under its $1 billion revolving credit facility on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.
The borrowing was made in order to increase the company’s cash position and preserve financial flexibility in light of current uncertainty in the global markets resulting from the Covid-19 outbreak.
As a result of the borrowing, in addition to amounts previously drawn, cash on hand and liquid investments, Aramark will have about $1.3 billion in available liquidity.
Aramark is a Philadelphia-based professional services company that provides food, hospitality and facility management services as well as uniform and work apparel.
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