Aramark finalizes $833 million term loan B at Libor plus 250 bps

By Sara Rosenberg

New York, April 1 – Aramark set pricing on its $833 million seven-year term loan B (BB+) at Libor plus 250 basis points, the high end of the Libor plus 225 bps to 250 bps talk, according to a market source.

The term loan still has a 0% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

JPMorgan Chase Bank is the lead on the deal.

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

In addition, the company is planning 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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