Air Medical prices atop talk; Power Team prices tighter than talk

By Paul A. Harris

Portland, Ore., Feb. 28 – Rising interest rates should cause momentum to continue to build in the leveraged loan market, according to a bank loan and bond investor returning from the J.P. Morgan Global High-Yield and Leveraged Finance Conference in Miami, who took a Wednesday call from Prospect News.

Referencing an address by Jamie Dimon, chief executive officer and president of JPMorgan Chase, the investor said that Dimon believes a 4% yield on the 10-year Treasury is a real possibility.

The Treasury is coming with an unprecedented amount of issuance in the months ahead, which could drive the rate, the investor recounted.

The 10-year closed Wednesday yielding 2.87%.

Dimon professed a bullish outlook for the remainder of 2018 at the conference, the investor said.

The JPMorgan CEO noted that consumer spending is in good shape, leverage at the banks, at 15 to 1, is in decent shape, and economic expansion should continue at least into the late 2019-2020 time-frame.

Meanwhile in Wednesday's bank loan market Air Medical Group Holdings Inc. completed the repricing of a $1,918,121,662 amount of senior secured term loan B due April 28, 2022 (B1/B).

And PowerTeam Services LLC finalized pricing for its $790 million credit facility at levels tighter than talk.

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