ResCare to redeem $29.95 million 7¾% senior notes due 2013 on Jan. 21

By Melissa Kory

Cleveland, Jan. 10 - ResCare, Inc. announced that it will redeem its $29,954,000 of 7¾% senior notes due Oct. 15, 2013.

The notes will be redeemed on Jan. 21 at 101.938 plus accrued interest to the redemption date.

Wells Fargo Bank, NA is the redemption agent.

Holders tendered $120,046,000 principal amount, or 80.03%, of the $150 million of the notes during a tender offer that expired on Jan. 4 and began on Dec. 7.

The purchase price was $1,021.88 per $1,000 principal amount of notes, which included a $30.00 consent payment for notes tendered by the consent deadline. The company also paid accrued interest up to but excluding the payment date.

ResCare is a Louisville, Ky.-based provider of home care to the elderly and persons with disabilities.

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