Philadelphia-based Aramark announced the launch of a process to refinance the company’s 2024 term loan B credit facility of $833 million that would proactively extend the maturity to 2028.
The global leader in food, facilities management and uniforms said the transaction is intended to be net leverage neutral, while maintaining comparable fixed-to-floating debt levels.
Concurrently, Aramark has initiated a process for a three-year extension of both its revolving credit facility and term loan A to 2026.
These transactions are anticipated to be completed before the end of the current fiscal quarter.
“We are strategically taking action in a favorable debt market environment to further optimize our balance sheet,” said Aramark chief financial officer Tom Ondrof. “We are encouraged by the increased levels of activity across the portfolio and remain focused on managing the business with a growth-oriented, long-term mindset.”
