FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


JP Morgan Chase Agents $500MM Amended Facility for Chemed Corporation

January 22, 2013, 07:14 AM

Chemed Corporation entered into an amended and restated credit agreement for its revolving credit facility for which JPMorgan Chase Bank acted as the administrative agent and J.P. Morgan Securities and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint lead arrangers and joint bookrunners. Bank of America, N.A. was the syndication agent and U.S. Bank 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 the credit agreement that provides Chemed the opportunity to increase its revolver and/or enter into term loans for an additional $150 million.

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.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.