Global Medical Response wraps $350 million term loan at 99.5 OID

By Sara Rosenberg

New York, Dec. 11 – Global Medical Response launched in the morning a $150 million incremental term loan B and then upsized the loan to $350 million in the afternoon, according to a market source.

Pricing on the incremental term loan is Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99.5, the source said.

The incremental term loan broke for trading on Friday, with levels quoted at 99¾ bid.

KKR Capital Markets LLC, Morgan Stanley Senior Funding Inc., Jefferies LLC, Goldman Sachs Bank USA and Barclays are the leads on the deal.

Proceeds will be used for general corporate purposes and potential acquisitions.

Global Medical, previously known as Air Medical, is a Greenwood Village, Colo.-based provider of medical care, primarily in the areas of emergency and patient relocation services.

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