{"id":472527,"date":"2021-04-07T07:32:16","date_gmt":"2021-04-07T11:32:16","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472527"},"modified":"2021-04-07T07:32:16","modified_gmt":"2021-04-07T11:32:16","slug":"aramark-announces-upsized-revolving-credit-facility-and-closing-of-debt-refinancing","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/aramark-announces-upsized-revolving-credit-facility-and-closing-of-debt-refinancing\/","title":{"rendered":"Aramark Announces Upsized Revolving Credit Facility and Closing of Debt Refinancing"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Aramark Announces Upsized Revolving Credit Facility <\/b><b>and Closing of Debt Refinancing<\/b><\/p>\n<p class=\"bwalignc\"><i>Upsized Revolver increases cash availability by over $200 million<\/i><\/p>\n<p class=\"bwalignc\"><i>Proactive actions extend maturities and strengthen financial flexibility<\/i><\/p>\n<p>PHILADELPHIA&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nAramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, announced today that the Company finalized a 3-year extension on substantially all of its Revolving Credit Facility and Term Loan A to 2026. This action included an upsizing of Aramark\u2019s Revolving Credit Facility to approximately $1.2 billion that increases the Company\u2019s cash availability by over $200 million. In addition, Aramark closed its previously announced $833 million refinancing of the Company\u2019s 2024 Term Loan B that extends the maturity to 2028.\n<\/p>\n<p>\nThe transactions are net leverage neutral, while maintaining comparable fixed-to-floating debt levels.\n<\/p>\n<p>\n\u201cWith a favorable outcome of the debt refinancing and upsized revolving credit facility, we have enhanced our financial flexibility and believe we are well-positioned to capitalize on the extensive growth opportunities ahead,\u201d stated Tom Ondrof, Aramark\u2019s Chief Financial Officer.\n<\/p>\n<p><b>About Aramark <\/b><\/p>\n<p>\nAramark (NYSE: ARMK) proudly serves the world\u2019s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 19 countries around the world. We deliver innovative experiences and services in food, facilities management and uniforms to millions of people every day. We strive to create a better world by making a positive impact on people and the planet, including commitments to engage our employees; empower healthy consumers; build local communities; source ethically, inclusively and responsibly; operate efficiently and reduce waste. Aramark is recognized as a Best Place to Work by the Human Rights Campaign (LGBTQ+), DiversityInc, Equal Employment Publications and the Disability Equality Index. Learn more at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.aramark.com&amp;esheet=52407775&amp;newsitemid=20210407005349&amp;lan=en-US&amp;anchor=www.aramark.com&amp;index=1&amp;md5=96c60d8088c6125060ebff4b69d6c4fd\">www.aramark.com<\/a> or connect with us on Facebook and Twitter.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nCertain statements made in this press release may constitute \u201cforward-looking statements\u201d within the meaning of the federal securities laws. Forward-looking statements are based on management\u2019s expectations, estimates, projections, and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. Additional information regarding these factors is contained in the \u201cRisk Factors,\u201d \u201cLegal Proceedings\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d sections and other sections of Aramark\u2019s Annual Report on Form 10-K, filed with the SEC on November 24, 2020, as such factors may be updated from time to time in its other periodic filings with the SEC, which are accessible on the SEC\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=52407775&amp;newsitemid=20210407005349&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=2&amp;md5=0534e9ae8326e3bd798b913dc5d0f03b\">www.sec.gov<\/a> and which may be obtained by contacting Aramark\u2019s investor relations department via its website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.aramark.com&amp;esheet=52407775&amp;newsitemid=20210407005349&amp;lan=en-US&amp;anchor=www.aramark.com&amp;index=3&amp;md5=7aa6d72796d02070a49c79458452c5b8\">www.aramark.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210407005349r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210407005349\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210407005349\/en\/<\/a><\/span><\/p>\n<p><b>Inquiries<br \/>\n<\/b><br \/>Felise Glantz Kissell (215) 409-7287<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Kissell-Felise@aramark.com\">Kissell-Felise@aramark.com<\/a><\/p>\n<p>\nScott Sullivan (215) 238-3953<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Sullivan-Scott1@aramark.com\">Sullivan-Scott1@aramark.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Pennsylvania<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Food\/Beverage Other Retail Retail Professional Services Other Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210407005349\/en\/787706\/3\/Aramark_H_RedandBlack_R.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Aramark Announces Upsized Revolving Credit Facility and Closing of Debt Refinancing Upsized Revolver increases cash availability by over $200 million Proactive actions extend maturities and strengthen financial flexibility PHILADELPHIA&#8211;(BUSINESS WIRE)&#8211; Aramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, announced today that the Company finalized a 3-year extension on substantially all of its Revolving Credit Facility and Term Loan A to 2026. This action included an upsizing of Aramark\u2019s Revolving Credit Facility to approximately $1.2 billion that increases the Company\u2019s cash availability by over $200 million. In addition, Aramark closed its previously announced $833 million refinancing of the Company\u2019s 2024 Term Loan B that extends the maturity to 2028. The transactions are net leverage neutral, while maintaining comparable &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/aramark-announces-upsized-revolving-credit-facility-and-closing-of-debt-refinancing\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Aramark Announces Upsized Revolving Credit Facility and Closing of Debt Refinancing&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-472527","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Aramark Announces Upsized Revolving Credit Facility and Closing of Debt Refinancing - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/aramark-announces-upsized-revolving-credit-facility-and-closing-of-debt-refinancing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramark Announces Upsized Revolving Credit Facility and Closing of Debt Refinancing - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Aramark Announces Upsized Revolving Credit Facility and Closing of Debt Refinancing Upsized Revolver increases cash availability by over $200 million Proactive actions extend maturities and strengthen financial flexibility PHILADELPHIA&#8211;(BUSINESS WIRE)&#8211; Aramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, announced today that the Company finalized a 3-year extension on substantially all of its Revolving Credit Facility and Term Loan A to 2026. This action included an upsizing of Aramark\u2019s Revolving Credit Facility to approximately $1.2 billion that increases the Company\u2019s cash availability by over $200 million. In addition, Aramark closed its previously announced $833 million refinancing of the Company\u2019s 2024 Term Loan B that extends the maturity to 2028. 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This action included an upsizing of Aramark\u2019s Revolving Credit Facility to approximately $1.2 billion that increases the Company\u2019s cash availability by over $200 million. In addition, Aramark closed its previously announced $833 million refinancing of the Company\u2019s 2024 Term Loan B that extends the maturity to 2028. 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