Aramark Announces Successful Closing of Debt Refinancing
Aramark (NYSE: ARMK) has successfully completed a debt refinancing operation, raising approximately $1,395 million as an add-on to its existing Term Loan B, extending to 2030. The significantly oversubscribed refinancing enabled the company to:
1. Fully repay $552 million of 2025 U.S. Senior Notes
2. Refinance $839 million of 2027 Term Loan B
The transaction maintains net leverage neutrality, preserves comparable interest rates, and extends debt maturities. CFO Jim Tarangelo emphasized the favorable outcome and strong market demand, indicating the company's intention to continue pursuing opportunities to enhance its capital structure with a focus on shareholder value creation.
Aramark (NYSE: ARMK) ha completato con successo un'operazione di rifinanziamento del debito, raccogliendo circa 1.395 milioni di dollari come aggiunta al suo esistente Term Loan B, con scadenza nel 2030. Il rifinanziamento, notevolmente sovrascritto, ha permesso all'azienda di:
1. Rimborsare completamente 552 milioni di dollari di Senior Notes statunitensi del 2025
2. Rifinanziare 839 milioni di dollari del Term Loan B del 2027
La transazione mantiene la neutralità nel leverage netto, preserva tassi di interesse comparabili e estende le scadenze del debito. Il CFO Jim Tarangelo ha sottolineato l'esito favorevole e la forte domanda di mercato, indicando l'intenzione dell'azienda di continuare a perseguire opportunità per migliorare la propria struttura di capitale con un focus sulla creazione di valore per gli azionisti.
Aramark (NYSE: ARMK) ha completado con éxito una operación de refinanciamiento de deuda, recaudando aproximadamente 1.395 millones de dólares como complemento a su préstamo a plazo B existente, con vencimiento en 2030. El refinanciamiento, que fue significativamente sobre suscrito, permitió a la empresa:
1. Pagar completamente 552 millones de dólares de Notas Senior de EE.UU. de 2025
2. Refinanciar 839 millones de dólares del préstamo a plazo B de 2027
La transacción mantiene la neutralidad del apalancamiento neto, preserva tasas de interés comparables y extiende los vencimientos de la deuda. El CFO Jim Tarangelo enfatizó el resultado favorable y la fuerte demanda del mercado, indicando la intención de la empresa de seguir buscando oportunidades para mejorar su estructura de capital con un enfoque en la creación de valor para los accionistas.
아라마크 (NYSE: ARMK)는 약 13억 9,500만 달러를 기존의 Term Loan B에 추가하여 2030년까지 연장하는 부채 재조정 작업을 성공적으로 완료했습니다. 상당히 초과 청약된 이번 재조정은 회사가 다음을 수행할 수 있게 했습니다:
1. 2025년 미국 시니어 노트 5억 5,200만 달러 전액 상환
2. 2027년 Term Loan B 8억 3,900만 달러 재조정
이번 거래는 순부채 비율 중립성을 유지하고, 유사한 이자율을 보존하며, 부채 만기를 연장합니다. CFO인 짐 타란젤로는 긍정적인 결과와 강한 시장 수요를 강조하며, 주주 가치를 창출하는 데 중점을 두고 자본 구조를 개선할 기회를 지속적으로 추구할 것이라고 밝혔습니다.
Aramark (NYSE: ARMK) a réussi à réaliser une opération de refinancement de la dette, levant environ 1,395 milliard de dollars en tant qu'ajout à son prêt à terme B existant, avec une échéance jusqu'en 2030. Le refinancement, qui a été considérablement sursouscrit, a permis à l'entreprise de :
1. Rembourser entièrement 552 millions de dollars des Senior Notes américaines de 2025
2. Refinancer 839 millions de dollars du prêt à terme B de 2027
La transaction maintient la neutralité de l'effet de levier net, préserve des taux d'intérêt comparables et prolonge les échéances de la dette. Le CFO Jim Tarangelo a souligné le résultat favorable et la forte demande du marché, indiquant l'intention de l'entreprise de continuer à rechercher des opportunités pour améliorer sa structure de capital en mettant l'accent sur la création de valeur pour les actionnaires.
Aramark (NYSE: ARMK) hat erfolgreich eine Schuldenrefinanzierung abgeschlossen und dabei etwa 1.395 Millionen Dollar als Ergänzung zu seinem bestehenden Term Loan B, das bis 2030 läuft, aufgenommen. Die erheblich überzeichnete Refinanzierung ermöglichte es dem Unternehmen:
1. Vollständige Rückzahlung von 552 Millionen Dollar der US Senior Notes 2025
2. Refinanzierung von 839 Millionen Dollar des Term Loan B 2027
Die Transaktion erhält die Nettoverschuldungsneutralität, bewahrt vergleichbare Zinssätze und verlängert die Fälligkeiten der Schulden. CFO Jim Tarangelo betonte das positive Ergebnis und die starke Marktnachfrage und wies darauf hin, dass das Unternehmen weiterhin Möglichkeiten zur Verbesserung seiner Kapitalstruktur mit einem Fokus auf die Schaffung von Aktionärswert verfolgen möchte.
- Successfully raised $1,395 million through oversubscribed Term Loan B
- Extended debt maturities from 2025/2027 to 2030
- Maintained neutral net leverage and comparable interest rates
- Strong market demand indicates positive investor confidence
- None.
Insights
The successful $1.395 billion debt refinancing represents a strategic victory for Aramark, with several key implications for investors. The significant oversubscription signals robust market confidence in Aramark's credit profile and business model, particularly noteworthy in the current market environment where debt financing can be challenging to secure.
The refinancing's structure offers three critical advantages: First, by extending maturities to 2030, Aramark has effectively optimized its debt maturity ladder, reducing near-term refinancing risk and creating a more balanced debt profile. This is particularly strategic given the current interest rate environment, as it locks in rates for a longer period and reduces exposure to potential future rate increases.
Second, the net leverage neutral nature of the transaction, combined with comparable interest rates, indicates disciplined financial management. This approach maintains the company's financial flexibility while avoiding additional interest burden that could constrain future operational investments or shareholder returns.
Third, the consolidation of debt into the Term Loan B structure potentially simplifies Aramark's debt profile and could provide more favorable terms compared to the Senior Notes structure. The successful upsizing of the Term Loan B due to strong demand suggests that institutional investors view Aramark's credit quality positively, which could benefit future financing activities.
This refinancing strengthens Aramark's position in the competitive food and facilities management sector by providing enhanced financial flexibility for strategic initiatives, potential M&A opportunities, or shareholder returns. The proactive approach to liability management, as indicated by CFO Jim Tarangelo's comments about pursuing further opportunities, suggests a forward-thinking treasury strategy focused on optimizing the capital structure.
Fully Repaid 2025 U.S. Senior Notes
Actions Extend Maturities and Further Enhance Financial Flexibility
“We are extremely pleased with the favorable outcome of our debt refinancing and the strong market demand for the transaction,” said Jim Tarangelo, Aramark’s Chief Financial Officer. “The Company will continue to proactively pursue opportunities to further enhance our capital structure given our financial flexibility with a focus on shareholder value creation.”
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 16 countries around the world with food and facilities management. Because of our hospitality culture, our employees strive to do great things for each other, our partners, our communities, and the planet. Learn more at www.aramark.com and connect with us on LinkedIn, Facebook, X, and Instagram.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250218786733/en/
Inquiries
Felise Glantz Kissell
(215) 409-7287
Kissell-Felise@aramark.com
Gene Cleary
(215) 409-7945
Cleary-Gene@aramark.com
Source: Aramark
FAQ
How much debt did Aramark (ARMK) refinance in its latest transaction?
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