CHEMED CORP 8-K

What Happened Chemed Corporation announced on April 10, 2026 that it renewed its senior secured credit facilities, entering into a Sixth Amended and Restated Credit Agreement that establishes a five‑year $450 million revolving credit facility. The facility is secured, SOFR‑based with a tiered spread tied to Chemed’s leverage ratio, and includes a $100 million sub‑limit for letters of credit. The filing (Item 1.01) also notes the credit agreement creates a direct financial obligation (Item 2.03).

Key Details

• Size/term: $450 million revolving credit facility with a five‑year term (dated April 10, 2026).
• Letters of credit: $100 million availability for letters of credit within the revolver.
• Pricing: Floating interest rate tied to SOFR plus a tiered margin that varies by Chemed’s leverage ratio.
• Expansion: Feature allowing Chemed to increase the revolver by up to an additional $250 million.
• Agents/lenders: JPMorgan Chase Bank, N.A. (Administrative Agent; Joint Lead Arranger & Bookrunner); Bank of America, N.A. (Joint Lead Arranger, Bookrunner & Syndication Agent); PNC Bank, N.A. and U.S. Bank, N.A. (Co‑Documentation Agents).

Why It Matters This agreement refreshes Chemed’s committed borrowing capacity and liquidity profile for the next five years, giving the company near‑term flexibility for operating needs, letters of credit, and potential strategic uses. The SOFR‑based, leverage‑tiered pricing means interest costs will vary with market rates and Chemed’s leverage; the $250 million expansion option provides additional optional capacity without immediate issuance of new debt. Investors should view this as a material financing update that affects the company’s secured debt and liquidity position.