Air Methods extends $650 million loans, $125 million revolver to 2020

By Susanna Moon

Chicago, Aug. 25 – Air Methods Corp. amended its credit agreement on Friday with KeyBank NA as administrative agent, joint lead arranger and bookrunner, according to an 8-K filing with the Securities and Exchange Commission.

The maturity date of the facility was extended to Aug. 21, 2020.

The agreement provides for a $125 million revolving line of credit and term loans up to an aggregate of $650 million, the filing noted.

PNC Bank, NA is the joint lead arranger and co-syndication agent; Compass Bank is the joint lead arranger and co-syndication agent; Bank of America, NA is the joint lead arranger and co-syndication agent; and Fifth Third Bank, SunTrust Bank, JPMorgan Chase Bank, NA and MUFG Union Bank, NA are co-documentation agents.

The amended credit agreement is secured by assets of the company and its subsidiaries.

Proceeds will be used for working capital, acquisitions, repurchases of outstanding company stock or other equity interests of the company and for other general corporate purposes.

The air medical transportation company is based in Englewood, Colo.

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