ResCare amends loan, lowering rates, upsizing revolver

By Sara Rosenberg

New York, June 8 - ResCare Inc. amended its senior secured credit facility, lowering interest rates and increasing the revolver size by $25 million to $200 million, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The pricing grid can now range from Libor plus 87.5 basis points to Libor plus 187.5 bps and the commitment fee can range from 20 bps to 40 bps, based on leverage.

The amendment also makes some definitional and technical changes.

JPMorgan acted as the lead bank on the amendment, which was completed on June 7.

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

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