Aramark to price $600 million eight-year notes in Thursday drive-by

By Paul A. Harris

Portland, Ore., March 9 – Aramark Services, Inc. plans to price a $600 million offering of eight-year senior notes on Thursday following a mid-morning conference call with investors, according to a syndicate source.

Goldman Sachs & Co. is the left bookrunner for the Rule 144A for life and Regulation S offering. BofA Merrill Lynch, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities LLC and Barclays are joint bookrunners.

PNC Capital Markets, SMBC Nikko, Comerica Securities, U.S. Bancorp Investments Inc., Rabo Securities, Scotia Capital and TD Securities are co-managers.

The notes come with three years of call protection.

The Philadelphia-based professional services company plans to use the proceeds, together with other financing sources, to redeem the entire $228.8 million amount of its 5¾% senior notes due March 15, 2020 and to refinance the term loans under its senior secured credit facilities.

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