Aramark (ARMK) Poised for Interest Expense Savings on $730M Loan Reprising

Aramark (NYSE:ARMK) is one of the best stocks to invest in, according to billionaire George Soros. On August 18, the company confirmed the repricing of 2028 Term Loan B totaling $730 million. The loans will bear a Secured Overnight Financing Rate (SOFR) plus 175 basis points.

The repricing will result in a 25-basis-point reduction, expected to generate annual interest expense savings. The savings are expected to enhance the company’s capital structure.

“This oversubscribed reprising reflects the strength of our financial profile and the market’s confidence in the Company’s significant business opportunities ahead,” said James Tarangelo, Aramark’s Chief Financial Officer. “By reducing our interest expense, we are creating additional financial flexibility to deliver value for our shareholders.”

Aramark (NYSE:ARMK) is an industrial company that provides food and facilities services to clients in education, healthcare, business and industry, sports, leisure, and corrections. Its services focus on hospitality and convenience, managing everything from on-site food services and refreshment solutions to facility management.

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Disclosure: None. This article is originally published at Insider Monkey.