Aramark launches amendment to extend institutional bank debt

By Sara Rosenberg

New York, March 11 - Aramark Corp. launched an amendment on Thursday to extend its strip of term loan B and synthetic letter-of-credit facility debt by two years to July 2016, according to a market source.

Pricing on the extended debt will be Libor plus 325 basis points, up from current pricing of Libor plus 187.5 bps, the source said.

No other fees are being offered to lenders, the source added.

JPMorgan and Goldman Sachs are the lead banks on the deal.

Aramark is a Philadelphia-based professional services company that provides food, hospitality, facility management services as well as uniform and work apparel.

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