Aramark Completes Debt Repricing
Company proactively reduced pricing on Term Loan B by 25 basis points
PHILADELPHIA–(BUSINESS WIRE)–
Aramark (NYSE:ARMK), a global leader in food and facilities management, announced the successful completion of a favorable repricing for the Company’s 2030 Term Loan B, totaling $2.4 billion. The new applicable interest rate will be the Secured Overnight Financing Rate (SOFR) plus 175 basis points, representing a 25 basis point reduction in pricing. This proactive action is expected to generate annual interest expense savings, further enhancing Aramark’s capital structure. There is no change to the Company’s outstanding debt, maturities, or covenants from the repricing.
“We opportunistically executed this oversubscribed repricing to lower interest expense given our extensive financial flexibility,” said James Tarangelo, Aramark’s Chief Financial Officer. “We’ve started the new fiscal year strong, and our teams remain focused in successfully delivering on our financial performance objectives.”
About Aramark
Aramark (NYSE: ARMK) proudly serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 16 countries around the world with food and facilities management. Because of our hospitality culture, our employees strive to do great things for each other, our partners, our communities, and the planet. Learn more at www.aramark.com and connect with us on LinkedIn, Facebook, X, and Instagram.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251211472010/en/
Inquiries
Felise Glantz Kissell
(215) 409-7287
[email protected]
Gene Cleary
(215) 409-7945
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KEYWORDS: Pennsylvania United States North America
INDUSTRY KEYWORDS: Construction & Property General Sports Sports Entertainment Events/Concerts Restaurant/Bar Food/Beverage Retail Other Construction & Property
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