{"id":485601,"date":"2021-05-03T07:32:16","date_gmt":"2021-05-03T11:32:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/aramark-announces-500-million-debt-repayment\/"},"modified":"2021-05-03T07:32:16","modified_gmt":"2021-05-03T11:32:16","slug":"aramark-announces-500-million-debt-repayment","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/aramark-announces-500-million-debt-repayment\/","title":{"rendered":"Aramark Announces $500 Million Debt Repayment"},"content":{"rendered":"

<\/p>\n

Aramark Announces $500 Million Debt Repayment<\/b><\/p>\n

Enhances capital structure; Reduces interest expense<\/i><\/p>\n

PHILADELPHIA–(BUSINESS WIRE<\/a>)–
\nAramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, announced today that the Company is issuing notice to optionally redeem in full the $500 million outstanding principal amount of its 4.75% Senior Notes due 2026 effective on June 2, 2021. The Company plans to fund the repayment, together with related premium and accrued interest, with available cash on hand. The debt repayment will result in annual interest expense savings of nearly $25 million.\n<\/p>\n

\n\u201cWe remain extremely encouraged by our strong cash flow and liquidity position that provides a platform to execute our capital allocation priorities, including this debt repayment as well as our refinancing in early April and acquisition announced just last week,\u201d stated Tom Ondrof, Aramark\u2019s Chief Financial Officer. \u201cThese actions collectively reduce interest expense and further enhance our flexibility to drive our ongoing pursuit of growth opportunities.\u201d\n<\/p>\n

\nAs previously announced, Aramark is scheduled to host its fiscal second quarter earnings call on May 11, 2021 at 8:30 a.m. ET.\n<\/p>\n

About Aramark<\/b><\/p>\n

\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 with food, facilities, and uniform services. Because our culture is rooted in service, our employees strive to do great things for each other, our partners, our communities, and our planet. Aramark has been named to DiversityInc\u2019s \u201cTop 50 Companies for Diversity\u201d list, the Forbes list of \u201cAmerica\u2019s Best Employers for Diversity,\u201d the Human Rights Campaign Foundation\u2019s \u201cBest Place to Work for LGBTQ Equality\u201d and scored 100% on the Disability Equality Index. Learn more at www.aramark.com<\/a> and connect with us on Facebook, Twitter, and LinkedIn.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\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 www.sec.gov<\/a> and which may be obtained by contacting Aramark\u2019s investor relations department via its website at www.aramark.com<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210503005259\/en\/<\/a><\/span><\/p>\n

\nFelise Glantz Kissell (215) 409-7287
\n
Kissell-Felise@aramark.com<\/a><\/p>\n

\nScott Sullivan (215) 238-3953
\n
Sullivan-Scott1@aramark.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Pennsylvania<\/p>\n

INDUSTRY KEYWORDS:<\/b> Food\/Beverage Other Retail Retail Professional Services Other Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Aramark Announces $500 Million Debt Repayment Enhances capital structure; Reduces interest expense PHILADELPHIA–(BUSINESS WIRE)– Aramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, announced today that the Company is issuing notice to optionally redeem in full the $500 million outstanding principal amount of its 4.75% Senior Notes due 2026 effective on June 2, 2021. The Company plans to fund the repayment, together with related premium and accrued interest, with available cash on hand. The debt repayment will result in annual interest expense savings of nearly $25 million. \u201cWe remain extremely encouraged by our strong cash flow and liquidity position that provides a platform to execute our capital allocation priorities, including this debt repayment as well as our refinancing … <\/p>\n

Continue reading “Aramark Announces $500 Million Debt Repayment”<\/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-485601","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAramark Announces $500 Million Debt Repayment - 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-500-million-debt-repayment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramark Announces $500 Million Debt Repayment - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Aramark Announces $500 Million Debt Repayment Enhances capital structure; Reduces interest expense PHILADELPHIA–(BUSINESS WIRE)– Aramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, announced today that the Company is issuing notice to optionally redeem in full the $500 million outstanding principal amount of its 4.75% Senior Notes due 2026 effective on June 2, 2021. The Company plans to fund the repayment, together with related premium and accrued interest, with available cash on hand. The debt repayment will result in annual interest expense savings of nearly $25 million. \u201cWe remain extremely encouraged by our strong cash flow and liquidity position that provides a platform to execute our capital allocation priorities, including this debt repayment as well as our refinancing … Continue reading "Aramark Announces $500 Million Debt Repayment"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/aramark-announces-500-million-debt-repayment\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-03T11:32:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210503005259r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aramark-announces-500-million-debt-repayment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aramark-announces-500-million-debt-repayment\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Aramark Announces $500 Million Debt Repayment\",\"datePublished\":\"2021-05-03T11:32:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aramark-announces-500-million-debt-repayment\\\/\"},\"wordCount\":512,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aramark-announces-500-million-debt-repayment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210503005259r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aramark-announces-500-million-debt-repayment\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aramark-announces-500-million-debt-repayment\\\/\",\"name\":\"Aramark Announces $500 Million Debt Repayment - 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