Air Evac Lifestream launches $145 million credit facility

By Sara Rosenberg

New York, April 5 - Air Evac Lifestream held a bank meeting on Wednesday to launch its proposed $145 million senior secured credit facility, according to a market source.

CIBC is the lead arranger on the deal, with Allied Capital and CIT involved as well.

The facility consists of a $35 million revolver talked at Libor plus 325 basis points and a $110 million term loan talked at Libor plus 325 bps, the source said.

Proceeds will be used to refinance existing debt and fund a dividend to shareholders.

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