Aramark firms $1.83 billion of term loans at SOFR plus 200 bps

By Sara Rosenberg

New York, March 22 – Aramark Services Inc. finalized pricing on its $730 million covenant-lite term loan B-7 due April 6, 2028 and $1.095 billion covenant-lite term loan B-8 due June 22, 2030 at SOFR plus 200 basis points, the low end of the SOFR plus 200 bps to 225 bps talk, according to a market source.

The term loans still have a 0% floor, a par issue price, 101 soft call protection for six months and no CSA.

Wells Fargo Securities LLC is the left lead arranger on the deal.

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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