Aramark guiding $1 billion seven-year notes with high-5% to 6% yield; pricing expected Friday

By Paul A. Harris

Portland, Ore., Feb. 22 - As the market awaited official price talk, initial guidance in the high 5% range to perhaps as high as 6% circulated Friday morning on Aramark Corp.'s $1 billion offering of seven-year senior notes, according to a trader.

The deal is set to price before the Friday close.

Goldman Sachs & Co., J.P. Morgan Securities LLC, Barclays, BofA Merrill Lynch and Wells Fargo Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S notes come with two years of call protection.

Proceeds will be used to repay some outstanding debt of the company and/or its indirect parent, Aramark Holdings Corp.

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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