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ARAMARK Holdings Corporation (Parent Company)
9 Months Ended
Jun. 28, 2013
Parent Company Activity Note Disclosure [Abstract]  
ARAMARK Holdings Corporation (Parent Company)
ARAMARK HOLDINGS CORPORATION (PARENT COMPANY):
ARAMARK Holdings has 600.0 million common shares authorized, approximately 218.8 million common shares issued and approximately 201.4 million common shares outstanding as of June 28, 2013.
On April 18, 2011, the Parent Company completed a private placement of $600 million, net of a 1% discount, in aggregate principal amount of 8.625% / 9.375% Senior Notes due 2016 (the "Parent Company Notes"). Interest on the Parent Company Notes accrued at the rate of 8.625% per annum with respect to interest payments made in cash and 9.375% per annum with respect to any payment in-kind interest. The Parent Company Notes were obligations of the Parent Company, were not guaranteed by the Company and its subsidiaries and are structurally subordinated to all existing and future indebtedness and other liabilities of the Company and its subsidiaries.
On March 7, 2013, the Company used a portion of the aggregate proceeds of the Senior Notes offering and the borrowings under the new term loans pursuant to Amendment Agreement No. 4 (see Note 6) to advance funds to the Parent Company to fund the purchase of all Parent Company Notes tendered by March 6, 2013, the early tender date. On March 7, 2013, the Parent Company issued a redemption notice for the portion of the Parent Company Notes that remained outstanding as of March 7, 2013, including accrued and unpaid interest, which notices provided for the redemption of the Parent Company Notes on May 1, 2013 at a price of 101% of the principal amount thereof. The remaining Parent Company Notes were redeemed by the trustee on May 1, 2013.
As a result of the tender offer and redemption of the Parent Company Notes, ARAMARK Holdings has no operations other than ownership of the Company. For the nine months ended June 28, 2013, the Parent Company recorded Interest and Other Financing Costs, net, of $51.0 million, which includes $9.4 million of third party costs for the tender offer and call premiums and $9.9 million of non-cash charges for the write-off of deferred financing costs related to the tender offer and the Satisfaction and Discharge. During the nine months ended June 28, 2013, the Company advanced approximately $657.8 million to the Parent Company, which was used to pay the interest, call premiums and principal on the Parent Company Notes. During the nine months ended June 28, 2013, the advance was reduced by approximately $19.8 million attributable to the tax benefit related to the interest and other charges on the Parent Company Notes. Finally, $638.0 million was dividended by the Company to the Parent Company in order to pay down the remainder of the advance. During the nine months ended June 29, 2012, the Company advanced approximately $53.7 million to the Parent Company, which was used to pay the interest on the Parent Company Notes. During the nine months ended June 29, 2012, the advance was reduced by approximately $25.3 million attributable to the tax benefit related to the interest on the Parent Company Notes.