Chemed Corporation Amends Bank Credit Facility.CINCINNATI -- Chemed Corporation ("Chemed") (NYSE NYSE See: New York Stock Exchange :CHE) today finalized its amended and restated bank credit facility. JPMorgan Chase Bank acted as both the agent and arranger for this transaction. E[acute accent]The amended facility provides for (i) an increase in the aggregate amount of the term loan (TL) from $35 million to $85 million at a current rate of LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). plus 2.0% and (ii) an increase of its revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility (RCF RCF Remote Call Forwarding RCF Residential Care Facility RCF Relative Centrifugal Force RCF Rolling Contact Fatigue RCF Refractory Ceramic Fiber RCF Revolving Credit Facility RCF Rock Characterisation Facility RCF Registration Confirm RCF Retained Cash Flow ) from $100 million to $175 million at a current rate of LIBOR plus 2.5%. The TL has 21 aggregate quarterly principal payments of $212,500 with the balance due on August 24, 2010. The RCF has a termination date termination date, n See expiration date. of February 24, 2010. E[acute accent]Listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and headquartered in Cincinnati, Ohio, Chemed Corporation (www.chemed.com) operates two wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter. VITAS is the nation's largest provider of end-of-life hospice care and Roto-Rooter is the nation's leading provider of plumbing and drain cleaning services. E[acute accent]Statements in this press release or in other Chemed communications may relate to future events or Chemed's future performance. Such statements are forward-looking statements and are based on present information Chemed has related to its existing business circumstances. Investors are cautioned that such forward-looking statements are subject to inherent risk that actual results may differ materially from such forward-looking statements. Further, investors are cautioned that Chemed does not assume any obligation to updated forward-looking statements based on unanticipated events or changed expectations. |
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