Aramark Announces Refinancing of 2024 Debt Maturity

Aramark (NYSE:ARMK), a $16 billion global leader in food, facilities management and uniforms, announced today the successful closing of a $900 million debt refinancing. As part of this transaction, Aramark raised secured term loans to redeem the Company’s 2024 Senior Notes. Aramark concurrently executed $800 million of interest rate swaps at favorable fixed interest rates. The transaction is net leverage neutral, maintains a comparable level of fixed-to-floating debt exposure due to the interest rate hedges, and extends the debt maturity by an additional three years to January 2027.

“We will continue to be opportunistic about enhancing our capital structure and maximizing financial flexibility,” said James Tarangelo, Aramark’s Treasurer. “Our refinancing will reduce interest expense and extend maturities. The heavily oversubscribed offering resulted in favorable pricing and reinforces the strong future prospects for the Company.”

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. Our 280,000 team members deliver innovative experiences and services in food, facilities management and uniforms to millions of people every day. We strive to create a better world by making a positive impact on people and the planet, including commitments to engage our employees; empower healthy consumers; build local communities; source ethically, inclusively and responsibly; operate efficiently; and reduce waste. Aramark is recognized as a Best Place to Work by the Human Rights Campaign (LGBTQ), DiversityInc, Black Enterprise and the Disability Equality Index. Learn more at www.aramark.com or connect with us on Facebook and Twitter.