Aramark readies launch of $833 million term loan B for Wednesday

By Sara Rosenberg

New York, March 23 – Aramark is scheduled to hold a lender call at 11 a.m. ET on Wednesday to launch an $833 million seven-year term loan B, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Price talk on the term loan is Libor plus 225 basis points to 250 bps with a 0% Libor floor and an original issue discount of 99.5, the source said.

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

Commitments are due at 5 p.m. ET on March 31, the source added.

Proceeds will be used to refinance an existing term loan B due 2024.

In addition, the company has initiated a process for a three-year extension of both its revolving credit facility and term loan A to 2026.

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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