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Air Medical to launch $1.46 billion incremental term loan on Tuesday
By Sara Rosenberg
New York, Sept. 7 – Air Medical Group Holdings Inc. is scheduled to hold a lenders’ presentation at 11 a.m. ET on Tuesday to launch a $1,455,000,000 incremental senior secured term loan B, according to a market source.
Morgan Stanley Senior Funding Inc., Jefferies LLC, Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs Bank USA, Credit Suisse Securities (USA) LLC and Nomura Securities International are the leads on the deal.
Proceeds will be used to help fund the acquisition of American Medical Response from Envision Healthcare Corp. in a transaction valued at $2.4 billion.
Other funds for the acquisition will come from an unsecured debt commitment from PSP Investments Credit USA LLC and Ares Capital Management LLC, and equity.
Closing is expected in the fourth quarter, subject to regulatory approval and customary closing conditions.
Air Medical Group, a KKR portfolio company, is a Dallas-based provider of air and ground ambulance programs. American Medical Response is a Greenwood Village, Colo.-based medical transportation company.
Upon completion of the transaction, the combined company will adopt a new name.
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