Chemed amends revolver, lowering borrowing costs

By Sara Rosenberg

New York, March 31 - Chemed Corp. amended its credit facility, lowering borrowing spreads and the commitment fee on its $175 million revolving credit facility, according to a company news release.

The current interest rate on the revolver is Libor plus 125 basis points.

The revolver contains a $50 million accordion feature.

In addition, the company repaid in full its term loan of $84 million, which had an interest rate of Libor plus 200 bps, using $41 million of cash and revolver borrowings.

JPMorgan Chase Bank acted as the agent on the deal.

Chemed is a Cincinnati provider of end-of-life hospice care services.

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