ResCare to repay term loan, repurchase 10 5/8% notes

By Sara Rosenberg

New York, Sept. 15 - ResCare Inc. plans to repay its existing term loan and repurchase its $150 million 10 5/8% senior notes due 2008 using proceeds from a new senior notes offering, cash on hand and short-term investments, according to a company news release.

The company plans to issue $150 million of eight-year senior notes in a private placement.

ResCare is a Louisville, Ky.-based provider of residential, therapeutic, job training and educational support services to people with special needs.

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