Aramark talks €325 million eight-year notes at 3¼% area yield; pricing Wednesday

By Paul A. Harris

Portland, Ore., March 22 – Aramark talked €325 million offering of eight-year senior notes (Ba3/BB+) to yield in the 3¼% area, according to a market source.

The deal is expected to price shortly.

Joint bookrunner Goldman Sachs & Co. will bill and deliver for the Rule 144A and Regulation S offering. Credit Suisse Securities (USA) LLC, Barclays, J.P. Morgan Securities LLC, BofA Merrill Lynch, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are also joint bookrunners.

The notes come with three years of call protection.

The Philadelphia-based professional services company plans to use the proceeds to refinance term loans under its senior secured credit facilities.

The issuing entity will be wholly owned subsidiary Aramark International Finance Sarl.

Aramark provides food, hospitality and facility management services as well as uniform and work apparel.

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