Aramark talks $670 million add-on term loan at 99.5 to 99.75

By Paul A. Harris

Portland, Ore., Dec. 10 - Aramark Corp. set discount talk on its $670 million Libor plus 325 basis points add-on U.S. term loan C due July 2016 at 99.5 to 99.75 on Monday, according to a market source.

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.

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.

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