AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENTCredit Agreement • April 4th, 2006 • Chemed Corp • Services-home health care services • New York
Exhibit 99.1 Chemed Corporation Amends Bank Credit Agreement ----------------------------------------------- CINCINNATI--(BUSINESS WIRE)--March 31, 2006--Chemed Corporation ("Chemed") (NYSE:CHE) today finalized Amendment No. 1 to its Amended And...Chemed Corp • April 4th, 2006 • Services-home health care services
CINCINNATI--(BUSINESS WIRE)--March 31, 2006--Chemed Corporation ("Chemed") (NYSE:CHE) today finalized Amendment No. 1 to its Amended And Restated Credit Agreement (Amendment). JPMorgan Chase Bank acted as both the agent and arranger for this transaction. On March 31, 2006, Chemed repaid in full its bank term loan of $84 million, which had an interest rate of LIBOR, plus 2.0%. This was accomplished using $41 million of cash with the remainder funded by drawing on its revolving credit facility. The Amendment consisted primarily of lowering the revolving credit facility's commitment fee, annual fee and establishing lower borrowing spreads based upon Chemed's Leverage Ratio and most recently reported four quarters of financial results. The current interest rate on the amended revolving credit facility is LIBOR plus 1.25%. An accordion feature is included in this Amendment that allows Chemed the opportunity to expand its revolving credit facility from $175 million to $225 million. Listed on
