GMR Solutions has secured binding commitments to reprice its existing $2.9 billion Term Loan B facility and plans to use approximately $200 million of cash to repay outstanding borrowings.
The term loan is due in October 2032. Following the planned repayment, its outstanding principal balance is expected to decline to approximately $2.7 billion.
The repricing will reduce the applicable interest rate spread from SOFR plus 325 basis points to SOFR plus 275 basis points, representing a 50-basis-point reduction.
GMR expects the combination of the lower borrowing rate and $200 million principal repayment to generate approximately $28 million of annual interest savings.
The transaction is expected to close on or about September 17, 2026, subject to customary closing conditions.
GMR is the largest U.S. provider of emergency medical services and operates in approximately 1,400 counties serving communities representing roughly 60% of the U.S. population.
The company employs approximately 34,000 people, supports nearly 5.5 million patient encounters annually and operates ground and air medical brands including American Medical Response, Air Evac Lifeteam, REACH Air Medical Services, Guardian Flight, Med-Trans and AirMed International.
KEY QUOTES:
“This transaction reflects the commitments we made to utilize cash generated by the business to reduce total leverage. The combination of the repricing and $200 million debt repayment is expected to generate approximately $28 million of annual interest savings, supporting our commitment to reducing leverage while strengthening financial flexibility.”
Brian Tierney, Chief Financial Officer of GMR Solutions
