Aramark Uniform plans $1.8 billion of credit facilities for spin-off

By Sara Rosenberg

New York, Aug. 9 – Aramark Uniform Services is finalizing terms on about $1.8 billion in financing through banking partners, comprised of $1.5 billion in term loan debt and a $300 million revolving credit facility, company officials said in a conference call on Tuesday.

Proceeds will be used to transfer around $1.5 billion to Aramark in connection with the spinoff of Aramark Uniform Services from Aramark.

The interest rates on the financing are anticipated to be comparable to Aramark’s most recent refinancing, officials added in the call.

Closing on the spinoff is expected by the end of Aramark’s fiscal 2023.

Aramark Uniform Services is a provider of full-service rental programs with programs focused on uniforms, floor mats, towels, linens, managed restroom and first aid services.

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