Aramark to sell $1.25 billion five-year notes in Wednesday drive-by; initial talk high 6% area

By Paul A. Harris

Portland, Ore., April 22 – Aramark Services, Inc. plans to price $1.25 billion of five-year senior notes in a Wednesday drive-by following a late-morning conference call with investors, according to market sources.

Initial talk has the notes coming to yield in the high 6% area, an investor said.

Goldman Sachs & Co. LLC is the left bookrunner. J.P. Morgan Securities LLC, BofA Securities Inc., PNC Capital Markets LLC, Wells Fargo Securities LLC, Credit Suisse Securities (USA) LLC, Capital One Securities Inc. and Barclays are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon.

The Philadelphia-based food services provider plans to use the proceeds for general corporate purposes.

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