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Aramark (NYSE:ARMK), the $10.4 billion market cap food service and facilities management company, announced Monday that its indirect wholly owned subsidiary, Aramark Services, Inc., along with certain domestic subsidiaries and Aramark Intermediate HoldCo Corporation, entered into Amendment No. 18 to its existing credit agreement. The amendment, dated August 15, 2025, was made with JPMorgan Chase (NYSE:JPM) Bank, N.A. as administrative agent and participating financial institutions. According to InvestingPro data, the company maintains a Fair financial health rating with a current ratio of 1.29.
According to a press release statement, the amendment refinances all previously outstanding U.S. Term B-7 Loans with new U.S. Term B-9 Loans totaling $730,458,023.44. The new loans are due in April 2028 and were funded in full on the closing date. Proceeds from the new term loans were used to refinance the outstanding principal amount of the prior B-7 loans. This refinancing affects part of Aramark’s total debt position, which InvestingPro data shows stands at $6.62 billion, with a debt-to-equity ratio of 2.15.
The U.S. Term B-9 Loans will bear interest, at the company’s election, at either a forward-looking term rate based on SOFR plus a margin initially set at 1.75%, or a base rate determined by the highest of the administrative agent’s prime rate, the federal funds rate plus 0.50%, or one-month Term SOFR plus 1.00%, plus a margin initially set at 0.75%. The new loans do not require any quarterly principal repayments.
Terms related to guarantees, collateral, mandatory prepayments, and covenants for the B-9 Loans remain substantially similar to those that applied to the B-7 Loans and other U.S. Term B Loans under the existing credit agreement.
This information is based on a statement included in Aramark’s filing with the Securities and Exchange Commission.
In other recent news, Aramark reported its third-quarter earnings for 2025, meeting expectations for earnings per share at $0.40 but falling short of revenue forecasts with $4.63 billion, slightly below the anticipated $4.66 billion. This revenue miss follows a pattern of softer organic growth, marking the second consecutive quarter of such results. Despite the revenue shortfall, Stifel has maintained its Buy rating on Aramark with a price target of $49, citing strong future growth potential. Baird upgraded Aramark from Neutral to Outperform, increasing its price target to $47 following the company’s earnings report. The upgrade was based on the belief that the company’s reset market expectations present a longer-term opportunity. UBS also raised its price target for Aramark to $46, maintaining a Buy rating, despite the recent challenges in organic growth. Additionally, Aramark completed the repricing of its $730 million Term Loan B, reducing the interest rate and expecting annual interest expense savings. This financial maneuver does not alter the company’s outstanding debt, maturities, or covenants.
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