Air Medical to launch about $1.1 billion credit facility on Wednesday

By Sara Rosenberg

New York, March 30 – Air Medical Group Holdings Inc. is scheduled to hold a bank meeting at 1:30 p.m. ET in New York on Wednesday to launch a $1,095,000,000 senior credit facility, according to a market source.

The deal consists of a $175 million ABL facility and a $920 million term loan B, the source said.

In addition, the company is launching a $460 million unsecured bridge loan.

Morgan Stanley Senior Funding Inc., Jefferies Finance LLC, KKR Capital Markets LLC, Nomura Securities International Inc. and MCS Capital Markets LLC are the joint lead arrangers and bookrunners on the term loan B, and Bank of America Merrill Lynch, Morgan Stanley, Jefferies, KKR, Nomura and MCS are the joint lead arrangers on the ABL facility.

Proceeds will be used to help fund the buyout of the company by KKR from Bain Capital and Brockway Moran & Partners.

Closing is expected in the second quarter, subject to customary regulatory approvals.

Air Medical is a Lewisville, Texas-based provider of air ambulance services.

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