Chemed Corporation Announces a Five-Year $350 Million Amended and Restated
CINCINNATI -- January 22, 2013
Chemed Corporation ("Chemed") (NYSE:CHE) announced that it has entered into an
Amended and Restated Credit Agreement for its Revolving Credit Facility
(“Credit Agreement”). JPMorgan Chase Bank, National Association acted as the
Administrative Agent and J.P. Morgan Securities LLC and Merrill Lynch, Pierce,
Fenner & Smith Incorporated acted as Joint Lead Arrangers and Joint
Bookrunners for this transaction. Bank of America, N.A. was the Syndication
Agent and U.S. Bank National Association was the Documentation Agent.
Terms of the Credit Agreement consist of a five-year $350 million revolving
credit facility. The interest rate on this Credit Agreement has a floating
rate that is currently LIBOR plus 125 basis points. An expansion feature is
included in this Credit Agreement that provides Chemed the opportunity to
increase its revolver and/or enter into term loans for an additional $150
This Amended and Restated Credit Agreement provides Chemed with lower
borrowing spreads and continued flexibility in terms of acquisitions, share
repurchases, dividends and other corporate needs.
Listed on the New York Stock Exchange 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.
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 update
forward-looking statements based on unanticipated events or changed
David P. Williams, 513-762-6901
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