Aramark subsidiary calls $1.5B of 6.375% notes, conditional on spin-off closure

Aramark

Issuer notifies holders of full redemption of $1.5B 6.375% Senior Notes due 2025.
Redemption date set for October 2, 2023, at 101.594% of par plus accrued interest.
Redemption is conditioned on consummation of the spin-off of uniforms and workplace supplies business.
Issuer may waive condition or delay redemption until spin-off proceeds are sufficient.
Conditional redemption signals progress toward the planned spin-off transaction.

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