(LOUISVILLE, KY) – ResCare, Inc. today announced that the Company has initiated a process to syndicate new senior secured credit facilities to replace its existing senior secured revolving credit facility and fund the repayment of its Term Loan B credit facility. The Company plans to syndicate $350 million senior secured credit facilities, comprised of a $175 million senior secured Term Loan A credit facility and a $175 million senior secured revolving credit facility, both of which will mature in April 2017. The facilities are expected to close in April 2012, subject to market and other customary conditions.
ResCare, with 40 years of experience helping people reach their highest level of independence, is one of the largest providers of home care to seniors and people with disabilities. It also offers residential and support services to people with intellectual and developmental disabilities and provides education, vocational training and job placement for people of all ages and skill levels. Based in Louisville, Kentucky, ResCare and its 50,000 dedicated employees serve daily nearly 60,000 people in 42 states, Washington, D.C., Canada and Puerto Rico. For more information about ResCare, please visit the Company’s website at http://www.rescare.com/