Chemed (NYSE: CHE) secures five-year $450M revolving credit facility
Rhea-AI Filing Summary
Chemed Corporation entered into a new five-year $450 million senior secured revolving credit facility, documented in a Sixth Amended and Restated Credit Agreement. The facility includes a $100 million letters of credit sublimit and an accordion feature of up to $250 million in additional revolving capacity.
Borrowings bear interest at a floating rate based on the secured overnight financing rate (SOFR) plus a tiered margin that depends on Chemed’s leverage ratio. JPMorgan Chase Bank serves as Administrative Agent and Joint Lead Arranger, with Bank of America, PNC Bank and U.S. Bank in key syndicate roles.
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8-K Event Classification
Key Figures
Key Terms
senior secured credit facilities financial
revolving credit facility financial
secured overnight financing rate financial
letters of credit financial
expansion feature financial
forward-looking statements financial
UNITED STATES
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On April 10, 2026, Chemed Corporation (“Chemed” or "we") renewed our $450 million senior secured credit facilities (“Credit Facilities”). JPMorgan Chase Bank, N.A., acted as the Administrative Agent, Joint Lead Arranger and Joint Bookrunner. Bank of America, N.A., acted as Joint Lead Arranger, Joint Bookrunner and Syndication Agent. PNC Bank, N.A. and U.S. Bank, N.A. were Co-Documentation Agents.
Terms of the Credit Facilities consist of a five-year $450 million revolving credit facility, including a $100 million for letters of credit. The interest rate on the Credit Facilities has a floating rate that is generally the secured overnight financing rate (“SOFR”) plus an additional tiered rate which varies based on our current leverage ratio. The Credit Facilities include an expansion feature that provides Chemed the opportunity to increase its revolver by an additional $250 million.
The foregoing summary of the Credit Facilities is qualified in its entirety by reference to the Sixth Amended and Restated Credit Agreement, dated as of April 10, 2026, a copy of which is attached hereto as Item 10.1.
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT
The information set forth above under Item 1.01 is hereby incorporated by reference into this item 2.03
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
10.1 Sixth Amended and Restated Senior Secured Credit Facility by and among Chemed Corporation, JP Morgan Chase Bank, National Association and other lenders thereto as of April 3, 2026.
99.1 Press Release, dated April 10, 2026, of Chemed Corporation, announcing entry into the Amended and Restated Credit Facility.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| CHEMED CORPORATION |
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Date: | April 10, 2026 |
| By: | /s/ Michael D. Witzeman |
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| Michael D. Witzeman |
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| Vice President and Controller |
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CONTACT: Michael D. Witzeman |
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FOR IMMEDIATE RELEASE |
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(513) 762-6714 |
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Chemed Corporation Announces a Five-Year $450 Million
Amended and Restated Credit Agreement
CINCINNATI, April 13, 2026--Chemed Corporation ("Chemed") (NYSE:CHE) announced that it has entered into an Amended and Restated Credit Agreement for its Credit Facility (“Credit Agreement”). JPMorgan Chase Bank, N.A., acted as the Administrative Agent, Joint Lead Arranger and Joint Bookrunner for this transaction. Bank of America, N.A., was Joint Lead Arranger, Joint Bookrunner and Syndication Agent and PNC N.A. and U.S. Bank N.A. were Co-Documentation Agents.
Terms of the Credit Agreement consist of a five-year $450 million revolving credit facility including $100 million for letters of credit. The interest rate on this Credit Agreement has a floating rate that is generally the secured overnight financing rate (“SOFR”) plus an additional tiered rate which varies based on our current leverage ratio. The Credit Agreement includes an expansion feature that provides Chemed the opportunity to increase its revolver by an additional $250 million.
Listed on the New York Stock Exchange and headquartered in Cincinnati, Ohio, Chemed Corporation (www.chemed.com) operates two wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter. VITAS is the nation's largest provider of end-of-life hospice care and Roto-Rooter is the nation's leading provider of plumbing and drain cleaning services.
Statements in this press release or in other Chemed communications may relate to future events or Chemed's future performance. Such statements are forward-looking statements and are based on present information Chemed has related to its existing business circumstances. Investors are cautioned that such forward-looking statements are subject to inherent risk that actual results may differ materially from such forward-looking statements. Further, investors are cautioned that Chemed does not assume any obligation to update forward-looking statements based on unanticipated events or changed expectations.
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