Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Aramark Corp. > News item |
Aramark readies launch of $670 million add-on term loan C for Monday
By Sara Rosenberg
New York, Dec. 7 - Aramark Corp. will hold a conference call at 1 p.m. ET on Monday to launch a $670 million add-on U.S. term loan C due July 2016, according to market sources.
J.P. Morgan Securities LLC, Goldman Sachs & Co., Barclays, Bank of America Merrill Lynch and Wells Fargo Securities LLC are the lead banks on the deal.
Pricing on the add-on is Libor plus 325 basis points, in line with existing term loan C pricing. The original issue discount on the new debt is still to be determined, sources said.
Proceeds will be used to refinance about $650 million of term loans due on Jan. 26, 2014.
In addition, the company is looking to amend its existing credit facility to allow for the redemption of HoldCo debt with OpCo unsecured debt, sources said.
Aramark is a Philadelphia-based professional services company that provides food, hospitality and facility management services as well as uniform and work apparel.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.