Aramark Completes Debt Repricing [Yahoo! Finance]
Aramark (ARMK)
Last aramark earnings: 2/4 06:30 am
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US:NYSE Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=130030&p=irol-irhome
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Source: Yahoo! Finance
BUSINESS WIRE )--Aramark (NYSE: ARMK), a global leader in food and facilities management, announced today the successful completion of a favorable repricing of the Company's 2028 Term Loan B of $730 million and 2030 Term Loan B of $1.1 billion. The new applicable rate for both Term Loans will be Secured Overnight Financing Rate ("SOFR") plus 200 basis points, which reduces pricing by 50 basis points. Aramark's proactive action is expected to result in an interest expense savings of approximately $10 million annually. There is no change to the Company's outstanding debt, maturities, or covenants from the repricing. "We are very pleased with the strong market demand for our debt, which provided an opportunity to further enhance our capital structure," said Jim Tarangelo, Aramark's Chief Financial Officer. "This transaction reflects the continued positive momentum in the business, and we remain focused on achieving our leverage ratio target of approximately 3.5x by the end of this fis
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ARMK
Earnings
- 2/6/24 - Beat
ARMK
Sec Filings
- 4/8/24 - Form 4
- 3/27/24 - Form 8-K
- 3/11/24 - Form 4
- ARMK's page on the SEC website