Aramark launches $750 million term loan at SOFR plus 275-300 bps

By Sara Rosenberg

New York, June 6 – Aramark was scheduled to hold a lender call at 3 p.m. ET on Tuesday to launch a $750 million seven-year term loan B (BBB-) that is talked at SOFR+CSA plus 275 basis points to 300 bps with a 0% floor and an original issue discount of 98.5, according to a market source.

CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at 5 p.m. ET on June 13, the source added.

Proceeds will be used to repay a portion of the company’s roughly $1.1 billion term loan B-3 due 2025.

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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