Aramark sets lender call for Monday to launch amend and extend

By Sara Rosenberg

New York, Feb. 10 - Aramark Corp. has scheduled a conference call for existing lenders on Monday to launch its credit facility amendment and extension proposal, according to a market source.

The company previously disclosed that it would like to extend about $1 billion of its term loan and synthetic letter-of-credit facility debt from the current maturity of Jan. 26, 2014.

The source said that the extended maturity date would be July 2016, and pricing on the extended debt would be Libor plus 325 basis points, versus non-extended pricing of Libor plus 187.5 bps.

There is about $1.987 billion of outstanding borrowings under the term loan and synthetic letter-of-credit facility.

J.P. Morgan Securities LLC, Goldman Sachs & Co., Barclays Capital Inc., Bank of America Merrill Lynch and Wells Fargo Securities LLC are leading the deal.

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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