Aramark firms discount price on $670 million add-on term loan C at 99¾

By Sara Rosenberg

New York, Dec. 17 - Aramark Corp. set the original issue discount on its $670 million add-on U.S. term loan C (Ba3/BB) due July 2016 at 993/4, the tight end of the 99½ to 99¾ talk, according to a market source.

Pricing on the add-on is Libor plus 325 basis points, in line with existing term loan C pricing. There is no Libor floor.

J.P. Morgan Securities LLC, Goldman Sachs & Co., Barclays Capital Inc., 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.

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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