Aramark extends about $1.2 billion of term loan borrowings to 2016

By Sara Rosenberg

New York, March 1 - Aramark Corp. extended around $1.23 billion of its term loans and $66.7 million of its synthetic letter-of-credit facility debt to July 26, 2016 from Jan. 26, 2014, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The company had previously said that it was looking to extend about $1 billion of the debt.

Pricing on the dollar- and euro-denominated extended loans is Libor plus 325 basis points versus non-extended pricing of Libor plus 187.5 bps. The coupon on the yen- and sterling-denominated term loans is 337.5 bps.

J.P. Morgan Securities LLC, Goldman Sachs & Co., Barclays Capital Inc., Bank of America Merrill Lynch and Wells Fargo Securities LLC led the deal that was completed on Feb. 29.

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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