Aramark amend and extend gets approved by lenders by Friday deadline

By Sara Rosenberg

New York, March 19 - Aramark Corp.'s credit facility amend and extend proposal was passed by lenders by the noon ET Friday deadline, according to a market source.

Under the amendment, the company is extending its strip of term loan B and synthetic letter-of-credit facility debt by two years to July 2016.

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

Lenders were offered a 5 bps fee for their consents.

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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