v3.26.1
Borrowings
 6 Months Ended
Apr. 03, 2026
Debt Disclosure [Abstract]  
Borrowings BORROWINGS:
Long-term borrowings, net, are summarized in the following table (in thousands):
April 3, 2026October 3, 2025
Senior Secured Credit Facility:
$1.4 Billion Revolving Credit Facility due August 2029
$325,749 $189,794 
Term A Loans due August 2029434,445 446,575 
United States Term B Loans due June 20302,300,487 2,367,181 
United States Term B Loans due April 2028727,411 726,687 
Senior Unsecured Notes:
4.375% Senior Unsecured Notes (EUR) due April 2033
456,219 464,793 
5.000% Senior Unsecured Notes due February 2028
1,146,825 1,146,007 
Other:
Receivables Facility due September 2028625,000 — 
Finance leases66,270 59,174 
Other7,783 5,726 
6,090,189 5,405,937 
Less—current portion(33,853)(31,543)
$6,056,336 $5,374,394 
As of April 3, 2026, there were $1.1 billion of outstanding foreign currency borrowings.
As of April 3, 2026, there was $961.7 million of availability under the senior secured revolving credit facility.
United States Term B-10 Loans due June 2030 Amendment
Aramark Services, Inc. (“ASI”) and certain of its subsidiaries entered into a credit agreement on March 28, 2017 (as amended, the "Credit Agreement"). On December 11, 2025 (the "Closing Date"), ASI entered into an amendment (“Amendment No.19”) to provide for, among other things, the repricing of all of the United States dollar denominated Term B-8 Loans (“U.S. Term B-8 Loans due 2030”) previously outstanding under the Credit Agreement by refinancing all of the U.S. Term B-8 Loans due 2030 previously outstanding under the Credit Agreement with new United States dollar denominated Term B-10 Loans in an amount equal to $2.4 billion due in June 2030 (“U.S. Term B-10 Loans due 2030”). The U.S. Term B-10 Loans due 2030 were funded in full on the Closing Date and were applied by the Company to refinance the entire principal amount of the U.S. Term B-8 Loans due 2030 previously outstanding under the Credit Agreement.
The U.S. Term B-10 Loans due 2030 bear interest at a rate equal to, at the Company’s election, either (a) a forward-looking term rate based on the Secured Overnight Financing Rate for the applicable interest period (“Term SOFR”) plus an applicable margin set at 1.75% 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) Term SOFR for a one-month interest period plus 1.00% plus an applicable margin set at 0.75%. The U.S. Term B-10 Loans due 2030 require repayments of principal in quarterly installments of $6.3 million from June 30, 2029 through March 31, 2030 and $2.3 billion at maturity. Except with respect to pricing, the U.S. Term B-10 Loans are subject to substantially similar terms currently relating to guarantees, collateral, mandatory prepayments and covenants that were applicable to the U.S. Term B-8 Loans previously outstanding under the Credit Agreement and are currently applicable to the Company’s other U.S. Term B Loans currently outstanding under the Credit Agreement.
Amendment No. 19 also gave effect to the 2024 Refinancing Amendments (as defined in the Credit Agreement), which, among other things, included borrower-favorable changes to basket capacity, thresholds and step-downs.
The Company capitalized $1.3 million of transaction costs directly attributable to the refinancing in Amendment No. 19, which are amortized using the effective interest method over the term of the loans and are presented in “Long-Term Borrowings” on the Condensed Consolidated Balance Sheet as of April 3, 2026 as a direct deduction from the carrying value of the loans. Amounts paid for capitalized transaction costs are included within “Other financing activities” on the Condensed Consolidated Statement of Cash Flows for the six months ended April 3, 2026. Additionally, the Company recorded $1.1 million of charges related to the repricings to "Interest Expense, net" on the Condensed Consolidated Statements of Income for the six months ended April 3, 2026, consisting of $0.7 million in transaction costs and a $0.4 million non-cash loss for the write-off of unamortized deferred financing costs and discount on the U.S. Term B-8 Loans due 2030.
4.375% Senior Notes (EUR) due April 2033
On March 19, 2025, Aramark International Finance S.à r.l. (“AIFS”), an indirect wholly owned subsidiary of the Company, issued €400.0 million of euro denominated 4.375% Senior Notes due April 2033 (the “4.375% 2033 Notes”), and used a portion of the net proceeds from the issuance and sale of the 4.375% 2033 Notes to repay at maturity, April 1, 2025, all of the €325.0 million outstanding aggregate principal amount of AIFS’ euro denominated 3.125% Senior Notes due April 2025 and the remainder for general corporate purposes, including reduction of debt. The Company capitalized €4.4 million in third-party costs directly attributable to the issuance and sale of the 4.375% 2033 Notes. The capitalized costs are amortized using the effective interest method over the term of the 4.375% 2033 Notes and are presented in “Long-Term Borrowings” on the Condensed Consolidated Balance Sheets as of April 3, 2026 and October 3, 2025 as a direct deduction from the carrying value of the notes.
United States Term B Loans due June 2030 Incremental Amendment, United States Term B Loans due January 2027 Repayment and 5.000% Senior Notes Due April 2025 Redemption
On February 18, 2025, ASI entered into an incremental amendment to the Credit Agreement (“Incremental Amendment No. 17”) to provide for, among other things, the establishment of new term loans comprised of new United States dollar denominated Term B-8 Loans due 2030 (“New U.S. Term B-8 Loans due 2030”) in an amount equal to $1,395.0 million, in the form of a fungible upsize to ASI’s existing United States dollar denominated Term B-8 Loans due June 2030 (“U.S. Term B-8 Loans due 2030"). The New U.S. Term B-8 Loans due 2030 were funded in full on the closing date of Incremental Amendment No. 17 and were applied by ASI to: (a) repay in full $839.3 million of the United States dollar denominated Term B-4 Loans due January 2027 ("U.S. Term B-4 Loans due 2027") previously outstanding under the Credit Agreement; (b) to redeem the entire $551.5 million aggregate principal amount outstanding of ASI's 5.000% Senior Notes due April 2025 (the "5.000% 2025 Notes") at a redemption price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest to the date of redemption; and (c) to pay fees, premiums, expenses and other transaction costs in connection with the foregoing.
The Company capitalized $4.6 million of transaction costs directly attributable to the refinancing in Amendment No. 17, which are amortized using the effective interest method over the term of the loans and are presented in “Long-Term Borrowings” on the Condensed Consolidated Balance Sheets as of April 3, 2026 and October 3, 2025 as a direct deduction from the carrying value of the loans. Amounts paid for capitalized transaction costs are included within “Other financing activities” on the Condensed Consolidated Statement of Cash Flows for the six months ended March 28, 2025. Additionally, the Company recorded $8.3 million of charges to "Interest Expense, net" on the Condensed Consolidated Statements of Income for the three and six months ended March 28, 2025, consisting of a $2.5 million non-cash loss for the write-off of unamortized deferred financing costs and discount on the U.S. Term B-4 Loans due 2027 and the 5.000% 2025 Notes and the payment of $5.8 million of transaction costs related to the refinancing.