Upsized Revolver will increase money availability by over $200 million
Proactive actions lengthen maturities and strengthen monetary flexibility
Aramark (NYSE:ARMK), a world chief in meals, services administration and uniforms, introduced in the present day that the Firm finalized a 3-year extension on considerably all of its Revolving Credit score Facility and Time period Mortgage A to 2026. This motion included an upsizing of Aramark’s Revolving Credit score Facility to roughly $1.2 billion that will increase the Firm’s money availability by over $200 million. As well as, Aramark closed its beforehand introduced $833 million refinancing of the Firm’s 2024 Time period Mortgage B that extends the maturity to 2028.
The transactions are internet leverage impartial, whereas sustaining comparable fixed-to-floating debt ranges.
“With a good consequence of the debt refinancing and upsized revolving credit score facility, we’ve got enhanced our monetary flexibility and consider we’re well-positioned to capitalize on the intensive development alternatives forward,” said Tom Ondrof, Aramark’s Chief Monetary Officer.
Aramark (NYSE: ARMK) proudly serves the world’s main instructional establishments, Fortune 500 firms, world champion sports activities groups, distinguished healthcare suppliers, iconic locations and cultural sights, and quite a few municipalities in 19 international locations world wide. We ship revolutionary experiences and providers in meals, services administration and uniforms to thousands and thousands of individuals every single day. We attempt to create a greater world by making a constructive affect on individuals and the planet, together with commitments to interact our staff; empower wholesome shoppers; construct native communities; supply ethically, inclusively and responsibly; function effectively and scale back waste. Aramark is acknowledged as a Finest Place to Work by the Human Rights Marketing campaign (LGBTQ+), DiversityInc, Equal Employment Publications and the Incapacity Equality Index. Be taught extra at www.aramark.com or join with us on Fb and Twitter.
Sure statements made on this press launch might represent “forward-looking statements” throughout the that means of the federal securities legal guidelines. Ahead-looking statements are based mostly on administration’s expectations, estimates, projections, and assumptions. These statements should not ensures of future efficiency and contain sure dangers and uncertainties, that are troublesome to foretell. Subsequently, precise future outcomes and traits might differ materially from what’s forecast in forward-looking statements as a consequence of a wide range of elements. Further data relating to these elements is contained within the “Danger Components,” “Authorized Proceedings” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” sections and different sections of Aramark’s Annual Report on Type 10-Ok, filed with the SEC on November 24, 2020, as such elements could also be up to date once in a while in its different periodic filings with the SEC, that are accessible on the SEC’s web site at www.sec.gov and which can be obtained by contacting Aramark’s investor relations division by way of its web site at www.aramark.com.
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Felise Glantz Kissell (215) 409-7287
Scott Sullivan (215) 238-3953
— to finance.yahoo.com