Air Methods to launch up to $1.48 billion credit facilities on Tuesday

By Sara Rosenberg

New York, March 31 – Air Methods Corp. is set to hold a bank meeting on Tuesday to launch up to $1,475,000,000 in credit facilities, according to a market source.

RBC Capital Markets, Morgan Stanley Senior Funding Inc. and Barclays are the lead banks on the deal.

The facilities consist of a $125 million revolver and an up to $1.35 billion term loan B, the source said.

Proceeds will be used to help fund the buyout of the company by American Securities LLC for $43.00 per share in cash in a transaction with a total enterprise value of about $2.5 billion, including net debt.

Other funds for the transaction will come from equity.

Closing is expected by the end of the second quarter, subject to the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction of a minimum tender condition.

Air Methods is an Englewood, Colo.-based provider of air medical transportation and air tourism.

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