Air Methods lifts term loan to $287.5 million, extends facilities

By Marisa Wong

Madison, Wis., Dec. 17 - Air Methods Corp. entered into a second amendment to its amended and restated revolving credit, term loan and security agreement dated July 5, 2011, according to an 8-K filing with the Securities and Exchange Commission.

The amendment, completed on Dec. 14,

• Increases the company's term loan credit facility by $100 million to $287.5 million;

• Extends the maturity of the facilities to Dec. 14, 2017;

• Permits the company to declare and pay a special dividend to its stockholders in an amount not to exceed $92 million;

• Increases the basket for permitted debt to $25 million and increases the basket for permitted acquisitions to $25 million; and

• Provides for an increase in the incremental loan facility to $100 million from $50 million.

KeyBank NA is the administrative agent, lead arranger and bookrunner; PNC Bank, NA is a joint lead arranger and documentation agent; BBVA Compass Bank is a joint lead arranger and co-syndication agent; and Bank of America, NA is a joint lead arranger and co-syndication agent.

Based in Englewood, Colo., Air Methods is a provider of air medical emergency transport services and systems.

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