Aramark launches $1.75 billion term loan B at Libor plus 200-225 bps

By Sara Rosenberg

New York, March 2 – Aramark Corp. launched a $1.75 billion term loan B (Ba1) due 2024 with price talk of Libor plus 200 basis points to 225 bps with a 0% Libor floor and an original issue discount of 99.75, according to a market source.

The term loan B has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

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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