Document/ExhibitDescriptionPagesSize 1: 8-K Current Report HTML 36K
2: EX-10.1 Material Contract HTML 865K
6: R1 Cover Page Cover Page HTML 45K
8: XML IDEA XML File -- Filing Summary XML 11K
11: XML XBRL Instance -- cik0-20240327_htm XML 13K
7: EXCEL IDEA Workbook of Financial Report Info XLSX 8K
4: EX-101.LAB XBRL Labels -- cik0-20240327_lab XML 65K
5: EX-101.PRE XBRL Presentations -- cik0-20240327_pre XML 34K
3: EX-101.SCH XBRL Schema -- cik0-20240327 XSD 11K
9: JSON XBRL Instance as JSON Data -- MetaLinks 12± 18K
10: ZIP XBRL Zipped Folder -- 0001584509-24-000088-xbrl Zip 270K
(Registrant's
Telephone Number, Including Area Code)
N/A
(Former name or former address, if changed since last report.)
__________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
i☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
i☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
i☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
i☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company i☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol(s)
Name
of Each Exchange on which Registered
iCommon Stock,
par value $0.01 per share
iARMK
iNew
York Stock Exchange
Item 1.01. Entry into a Material Definitive Agreement.
Amendment No. 14 to the Credit Agreement
On March 27, 2024 (the “Closing Date”), Aramark Services, Inc. (the “Company”), an indirect wholly-owned subsidiary of Aramark (“Aramark” or “Parent”), Aramark Intermediate HoldCo Corporation (“Holdings”)
and certain wholly-owned domestic subsidiaries of the Company entered into Amendment No. 14 (the “Amendment”) with the financial institutions party thereto and JPMorgan Chase Bank, N.A. as administrative agent for the Lenders (as defined below) and collateral agent for the secured parties thereunder to the Credit Agreement (as amended by the Amendment, the “Credit Agreement”), dated March 28, 2017, among the Company, Holdings, certain other borrowers party thereto and certain wholly-owned domestic subsidiaries
of the Company, the financial institutions from time to time party thereto (including the financial institutions party to the Amendment, the “Lenders”), the issuing banks named therein and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders and collateral agent for the secured parties thereunder.
The Amendment provides for, among other things, the repricing of all of the U.S. Term B-5 Loans (as defined in the Credit Agreement) and U.S. Term B-6 Loans (as defined in the Credit Agreement) previously outstanding under the Credit Agreement by refinancing (i) all of the U.S. Term B-5 Loans previously outstanding under the Credit Agreement with new U.S. Term B-7 Loans in an amount equal to $730,458,023.44 due in April 2028 and (ii) all of the U.S. Term B-6 Loans previously outstanding
under the Credit Agreement with new U.S. Term B-8 Loans in an amount equal to $1,094,500,000.00 due in June 2030. The new U.S. Term B-7 Loans and the new U.S. Term B-8 Loans were funded in full on the Closing Date and were applied by the Company to refinance the entire principal amount of U.S. Term B-5 Loans and the U.S. Term B-6 Loans previously outstanding under the Credit Agreement.
The new U.S. Term B-7 Loans and the new U.S. Term B-8 Loans each bear interest at a rate equal to, at the Company’s election, either (a) a forward-looking term rate based on SOFR for the applicable interest period (“Adjusted Term SOFR”) or (b) a base rate determined by reference to the highest
of (1) the prime rate of the administrative agent, (2) the federal funds rate plus 0.50% and (3) the Adjusted Term SOFR for a one month interest period plus 1.00%, plus an applicable margin set initially at 2.00% for borrowings based on Adjusted Term SOFR and 1.00% for borrowings based on the base rate.
The U.S. Term B-7 Loans do not require any quarterly repayments of the principal amount. The U.S. Term B-8 Loans require repayments of principal in quarterly installments of $2,750,000 from March 31, 2024 through March 31, 2030.
Other than as set forth above, the U.S. Term B-7 Loans
and the U.S. Term B-8 Loans are subject to substantially identical terms currently relating to guarantees, collateral, mandatory prepayments and covenants that were applicable to the U.S. Term B-5 Loans and U.S. Term B-6 Loans previously outstanding under the Credit Agreement and the Company’s other U.S. Term B Loans currently outstanding under the Credit Agreement.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Cover Page Interactive
Date File (embedded within the Inline XRBL document)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.