Simpson Thacher recently represented ARAMARK Holdings Corporation in connection with its 144A/Regulation S high yield offering of $600 million 8.625%/9.375% Senior Notes due 2016, and ARAMARK Corporation, the indirect operating subsidiary of ARAMARK Holdings Corporation, in connection with the amendment to its existing credit agreement providing for, among other things, an extension and increase of the U.S. dollar denominated portion of its revolving credit facility.
ARAMARK Holdings Corporation will use the net proceeds from the notes offering, along with borrowings by ARAMARK Corporation under its revolving credit facility, to pay its stockholders, including its sponsors, a dividend of $711 million.
ARAMARK is a leader in professional services, providing award-winning food services, facilities management, and uniform and career apparel to health care institutions, universities and school districts, stadiums and arenas, and businesses around the world.
The Simpson Thacher team included Joe Kaufman, Michele Murphy, Erland Modesto and Richard Wang (Capital Markets); Jennifer Hobbs, Jessica Tuchinsky and Lauren Yoon (Credit); Jonathan Cantor and Drew Purcell (Tax); and Jeanne Annarumma (Executive Compensation and Employee Benefits).