Air Methods (AIRM) Closes Amended Credit Facility
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Air Methods Corporation (Nasdaq: AIRM) has successfully closed, together with its bank group, led by KeyBank National Association (NYSE: KEY), a five-year Amended and Restated Credit Agreement.
The Amended Credit Facility is comprised of a $100 million revolving line of credit and subject to the completion of Air Methods' acquisition of Omniflight Helicopters, Inc. (Omniflight) and other standard closing conditions, a $200 million term loan. The Amended Credit Facility replaces Air Methods' current revolving line of credit of $50 million and its $50 million term loan, which were scheduled to mature in September 2012.
The Amended Credit Facility is comprised of a $100 million revolving line of credit and subject to the completion of Air Methods' acquisition of Omniflight Helicopters, Inc. (Omniflight) and other standard closing conditions, a $200 million term loan. The Amended Credit Facility replaces Air Methods' current revolving line of credit of $50 million and its $50 million term loan, which were scheduled to mature in September 2012.
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