Global Medical talks $300 million add-on term loan at 99.5-99.75 OID

By Sara Rosenberg

New York, Sept. 13 – Global Medical Response launched on Monday its fungible $300 million add-on term loan B due March 2025 with original issue discount talk of 99.5 to 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 425 basis points with a 1% Libor floor.

KKR Capital Markets is the left lead on the deal.

Commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to refinance a portion of the company’s preferred equity.

The new debt is being added on to the company’s existing $1.404 billion term loan B due March 2025.

Global Medical Response is a Greenwood Village, Colo.-based medical transportation and response company.

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