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Aramark launches $1.83 billion of term loans at SOFR plus 200-225 bps
By Sara Rosenberg
New York, March 18 – Aramark Services Inc. launched without a lender call on Monday morning a $730 million covenant-lite term loan B-7 due April 6, 2028 and a $1.095 billion covenant-lite term loan B-8 due June 22, 2030, according to a market source.
Price talk on the term loans is SOFR plus 200 basis points to 225 bps with a 0% floor and a par issue price, the source said.
The term loans have 101 soft call protection for six months and no CSA.
Wells Fargo Securities LLC is the left lead arranger on the deal.
Commitments are due at noon ET on Friday, the source added.
Proceeds will be used to reprice an existing term loan B-5 due April 6, 2028 and an existing term loan B-6 due June 22, 2030 down from SOFR+CSA plus 250 bps with a 0% floor. Current CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.
Aramark is a Philadelphia-based food service and facilities services provider.
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