WASHINGTON (dpa-AFX) - Aramark (ARMK) has completed a favorable repricing of its $730 million 2028 Term Loan B, reducing the interest rate to SOFR plus 175 basis points, a 25 basis point decrease.
The move is expected to lower annual interest expenses without changing the company's debt, maturities, or covenants.
CFO James Tarangelo said the oversubscribed repricing highlights market confidence in Aramark's financial strength and future opportunities, adding that the savings provide greater flexibility to create shareholder value.
ARMK currently trades at $39.53 or 0.25% lower on the NYSE.
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