Air Medical starts roadshow for $370 million eight-year notes for LBO

By Paul A. Harris

Portland, Ore., April 14 – Air Medical was scheduled to host an investor conference call and begin a roadshow on Tuesday for a $370 million offering of eight-year senior notes, according to a syndicate source.

The roadshow, which kicked off in New York on Tuesday, continues in Boston on Wednesday.

The Rule 144A for life deal is expected to price on Friday.

Morgan Stanley & Co. LLC, Jefferies LLC, KKR, Nomura and MCS Capital Markets are the joint bookrunners.

The notes come with three years of call protection.

Proceeds will be used to help fund the leveraged buyout of Air Medical by Kohlberg Kravis Roberts & Co. LP from Bain Capital and Brockway Moran & Partners.

The issuing entity will be Air Medical Merger Sub Corp., which is to be merged with and into Air Medical Holdings, Inc., a Lewisville, Texas-based provider of air ambulance services.

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