CHE · 10-Q · 2026Q1 · Full report

Liquidity and Credit Agreement

CHEMED CORP · 2026-04-28 · Importance 96 · Surprise 100

On April 10, 2026 Chemed replaced its prior credit agreement with a sixth amended and restated Credit Agreement providing a five-year $450.0 million revolving credit facility (including $100.0 million for letters of credit) and an expansion feature to increase the revolver by up to $250.0 million. The facility carries a floating rate tied to SOFR plus a tiered spread (100 bps as of March 31, 2026) and included approximately $313.3 million of unused borrowing capacity under the prior agreement as of March 31, 2026. The company had $45.5 million in standby letters of credit outstanding and believes its liquidity and sources of capital are satisfactory for foreseeable needs. Management reports compliance with financial covenants under the prior agreement and expects to remain in compliance under the new Credit Agreement.