Item  1.01  Entry into a Material Definitive Agreement

 

 

 

 

Item 2.03  Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

 

On November 29, 2007, Res-Care, Inc. amended its existing senior secured credit facility. The amendment was led by JPMorgan Chase Bank, National Association, the Administrative Agent under the credit facility. The amendment increases the revolving credit facility by $50 million to a total of $250 million. A $50 million “accordion feature” remains in place, which allows ResCare to expand its total borrowing capacity to $300 million. The amendment also makes some definitional and technical changes that are not considered material. The credit facility expires on October 3, 2010 and is secured by a lien on the assets of ResCare and its subsidiaries. The credit facility will be used primarily for working capital purposes, letters of credit required under its insurance programs and for acquisitions.

 

 

 

 

Item 9.01  Financial Statements and Exhibits

 

(d)

 

Exhibits

 

 

 

99.1

 

Press release issued November 30, 2007.

 

 

 

99.2

 

Amendment No. 3 dated as of November 29, 2007 to Amended and Restated Credit Agreement dated as of October 3, 2005, among the registrant, the Lenders from time to time parties thereto, JPMorgan Chase Bank, National Association, as Administrative Agent, National City Bank of Kentucky, as Syndication Agent, and General Electric Capital Corporation and U.S. Bank National Association, as Documentation Agents, and J.P. Morgan Securities Inc., as Lead Arranger and Sole Book Runner.

 

 


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

 

 

 

 

RES-CARE, INC.

 

 

 

 

 

Date: December 3, 2007

 

By

/s/ David W. Miles

 

 

David W. Miles

 

 

Executive Vice President and Chief

 

 

Financial Officer

 

 


EXHIBIT INDEX

 

Exhibit Number

 

Description of Exhibit

 

 

 

99.1

 

Press release issued November 30, 2007.

 

 

 

99.2

 

Amendment No. 3 dated as of November 29, 2007 to Amended and Restated Credit Agreement dated as of October 3, 2005, among the registrant, the Lenders from time to time parties thereto, JPMorgan Chase Bank, National Association., as Administrative Agent, National City Bank of Kentucky, as Syndication Agent, and General Electric Capital Corporation and U.S. Bank National Association, as Documentation Agents, and J.P. Morgan Securities Inc., as Lead Arranger and Sole Book Runner.