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Air Medical to launch $200 million HoldCo term loan on Tuesday
By Sara Rosenberg
New York, May 20 - Air Medical Holdings LLC will hold a bank meeting at 2:25 p.m. ET on Tuesday to launch a $200 million five-year HoldCo contingent cash pay term loan, according to a market source.
Barclays, Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley Senior Funding Inc. are the bookrunners on the deal.
Pricing on the loan will be a fixed rate that is still to be announced, the source said.
The loan will rank pari passu with all senior unsecured debt of the company.
Proceeds will be used to fund a dividend to shareholders.
Air Medical is a San Antonio, Texas-based provider of community-based air ambulance services.
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