Aramark borrows remaining $230 million under revolving facility

By Sarah Lizee

Olympia, Wash., March 19 – Aramark subsidiary Aramark Services Inc. borrowed the remaining $230 million under its $1 billion revolving credit facility on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

The borrowing was made in order to increase the company’s cash position and preserve financial flexibility in light of current uncertainty in the global markets resulting from the Covid-19 outbreak.

As a result of the borrowing, in addition to amounts previously drawn, cash on hand and liquid investments, Aramark will have about $1.3 billion in available liquidity.

Aramark is a Philadelphia-based professional services company that provides food, hospitality and facility management services as well as uniform and work apparel.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.