Chemed calls $110 million floating-rate notes, subject to loan amendment and restatement

By Caroline Salls

Pittsburgh, Jan. 19 - Chemed Corp. said it will redeem all its $110 million outstanding floating-rate senior secured notes due 2010 on Feb. 18, subject to an amendment and restatement of its existing bank credit facility.

The redemption is subject to the amendment and restatement of the facility by Feb. 18 to provide for an increase in the term loan amount to $85 million from $35 million and an increase of its revolving credit facility to at least $140 million from $100 million.

The notes will not be redeemed unless this condition is satisfied or waived by the company.

Chemed is a Cincinnati provider of end-of-life hospice care services through its Vitas Healthcare Corp. subsidiary.

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