ARAMARK Corporation and RMK Acquisition Corporation announced that, in connection with the anticipated acquisition of ARAMARK by an investor group led by Joseph Neubauer and investment funds managed by GS Capital Partners, CCMP Capital Advisors and J.P. Morgan Partners, Thomas H. Lee Partners and Warburg Pincus LLC (Acquisition), they will commence certain financing transactions consisting of the borrowing of new senior secured and unsecured indebtedness and the repayment of certain indebtedness. The new financing transactions will include:
new senior secured credit facilities, consisting of $3.660 billion of term loans and a $600 million revolving credit facility; and $2.270 billion of new senior and senior subordinated unsecured indebtedness, consisting of senior fixed rate, senior floating rate and senior subordinated notes (collectively, the “notes”). The new term loan facility is expected to have a seven year maturity, and the revolving credit facility is expected to have a six year maturity.
The senior fixed rate notes and the senior floating rate notes each are expected to have an eight year maturity and the senior subordinated notes are expected to have a ten year maturity.
The notes will be offered by RMK Acquisition Corporation in a private placement in the United States only to qualified institutional buyers within the meaning of Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The notes will be offered outside the United States to non-U.S. investors pursuant to Regulation S under the Securities Act.
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