Aramark Services to launch $1.41 billion term loan on Tuesday morning

By Sara Rosenberg

New York, May 14 – Aramark Services Inc. will hold a lender call at 10:30 a.m. ET on Tuesday to launch a $1,411,000,000 covenant-light first-lien term loan due March 2024, according to a market source.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

Price talk on the term loan is Libor plus 175 basis points with a 0% Libor floor and a par issue price, the source said.

The term loan has 101 soft call protection for six months.

Proceeds will be used to reprice an existing term loan down from Libor plus 200 bps with a leverage-based step-down to Libor plus 175 bps and a 0% Libor floor.

Expected term loan ratings are Ba1/BBB-.

Commitments are due at 5 p.m. ET on Thursday, the source added.

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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