Aramark Announces Upsized Allocation of Debt Refinancing
14 Junho 2023 - 8:30AM
Business Wire
Proactive refinancing extends debt maturity and
enhances financial flexibility
Aramark (NYSE:ARMK), a global leader in food, facilities
management and uniforms, announced today the successful allocation
of a $1.1 billion debt refinancing of the Company’s 2025 Term Loan
B which is expected to close by the end of June 2023. The
transaction is net leverage neutral, maintains comparable
fixed-to-floating debt levels, and extends the debt maturity by
more than five years to June 2030.
“We are pleased with the favorable outcome of our upsized debt
refinancing and that our operating performance and strategic
actions have resulted in an upgrade to our credit rating last
week,” said Tom Ondrof, Aramark’s Chief Financial Officer. “We will
continue to enhance our capital structure and financial
flexibility, while remaining focused on achieving a leverage ratio1
target below 3.5x.”
1Leverage ratio is defined as Net Debt to Covenant Adjusted
EBITDA
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 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 the planet. Aramark has been recognized on
FORTUNE’s list of “World’s Most Admired Companies,” DiversityInc’s
“Top 50 Companies for Diversity” and “Top Companies for Supplier
Diversity,” Newsweek’s list of “America’s Most Responsible
Companies 2023,” the HRC’s “Best Places to Work for LGBTQ
Equality,” and scored 100% on the Disability Equality Index. Learn
more at www.aramark.com and connect with us on Facebook, Twitter,
and LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20230614119733/en/
Inquiries Felise Kissell (215) 409-7287
Kissell-Felise@aramark.com
Scott Sullivan (215) 238-3953 Sullivan-Scott1@aramark.com
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