Aramark upsizes revolving credit facility and closing of debt refinancing

April 8, 2021
Revolver increases cash availability by over $200 million; proactive actions extend maturities and strengthen financial flexibility

Aramark announced that the finalization of a three-year extension on substantially all of its revolving credit facility and term loan A to 2026.

This action included an upsizing of Aramark’s revolving credit facility to approximately $1.2 billion that increases its cash availability by over $200 million. In addition, Aramark closed its previously announced $833 million refinancing of the company’s 2024 term loan B that extends the maturity to 2028.

The transactions are net leverage neutral, while maintaining comparable fixed-to-floating debt levels.

“With 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,” said Aramark chief financial officer Tom Ondrof.

Aramark is a leading provider of foodservice, vending and micro markets, facilities management and uniforms. It serves the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers and iconic destinations and cultural attractions, among numerous municipalities, in 19 countries.


[Photo: Aramark/Business Wire]
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