Air Methods Corporation Announces Closing of Amended and Restated Credit Agreement

Air Methods Corporation AIRM announced today that it has successfully closed, together with its bank group, led by KeyBank National Association 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, 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 allows Air Methods to increase the revolving line of credit and/or the term loan by up to an additional $50 million in the future, subject to lender participation. The Credit Facility is secured by assets of Air Methods and certain of its subsidiaries.