Air Medical launches $205 million term loan at Libor plus 525-550 bps

By Sara Rosenberg

New York, Nov. 26 - Air Medical Group Holdings Inc. held a conference call on Monday to launch a $205 million 51/2-year senior secured term loan that is talked at Libor plus 525 basis points to 550 bps with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The loan has soft call protection of 102 in year one and 101 in year two, the source said.

Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch and Citigroup Global Markets Inc. are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used to fund the acquisition of Reach Medical Holdings LLC, a Santa Rosa, Calif.-based provider of air medical transport services.

Total leverage is 4.8 times.

Air Medical is a Boca Raton, Fla.-based provider of emergency air medical services.

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