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Chemed Corporation Announces a Five-Year $450 Million Amended and Restated Credit Agreement

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  • Chemed Corporation announced an Amended and Restated Credit Agreement for its credit facility.
  • JPMorgan Chase Bank, N.A. served as Administrative Agent, Joint Lead Arranger, & Joint Bookrunner.
  • Bank of America, N.A. acted as Joint Lead Arranger, Joint Bookrunner, & Syndication Agent.
  • PNC N.A. & U.S. Bank N.A. were designated as Co-Documentation Agents.
  • The agreement establishes a five-year $450 million revolving credit facility including $100 million for letters of credit.
  • Interest rates are floating based on SOFR plus a tiered rate determined by the company's leverage ratio.
  • The facility includes an expansion feature allowing Chemed to increase the revolver by an additional $250 million.
  • Chemed operates two wholly owned subsidiaries: VITAS Healthcare, the largest U.S. hospice provider, & Roto-Rooter, the leading U.S. plumbing service provider.
  • The press release contains forward-looking statements that are subject to risks & Chemed assumes no obligation to update them.