GMR’s $2.24 Billion Debt Refinancing

Simpson Thacher represented Global Medical Response, Inc. (“GMR”) in the transaction.

Global Medical Response, Inc. (“GMR”) completed the offering of $600 million aggregate principal amount of its 6.5% Senior Secured Notes due 2025.

In addition, GMR completed the amendment of its first lien term loan credit facility to provide for a senior secured term loan of $1.64 billion due 2025.

The net proceeds of the offering and the term loan amendment, together with cash on hand, were used to refinance GMR’s existing $1.9 billion senior secured term loan credit facility due 2022 and redeem GMR’s existing $370 million senior unsecured notes due 2023.

GMR is an industry-leading air, ground, specialty and residential fire services and managed medical transportation organization. With more than 37,500 employees, GMR delivers medical care, primarily in the areas of emergency and patient relocation services in the United States and around the world.

The Simpson Thacher team advising GMR included Richard Fenyes (Picture), Matt Hart, Matt Petrone, Ben Carson and Pia Figuerola (Capital Markets); Adam Shapiro, Remy Denner and Patrick Wolff (Credit); Jon Pall (Collateral); Jeanne Annarumma, Andrew Kofsky and Alyssa Ohanian (Executive Compensation and Employee Benefits); Nancy Mehlman and Sophie Staples (Tax); Lori Lesser and Alysha Sekhon (Intellectual Property); Vanessa Burrows (Healthcare); and Adeeb Fadil and Noreen Lavan (Environmental).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; Vanessa Burrows – Simpson Thacher & Bartlett; Ben Carson – Simpson Thacher & Bartlett; Remy Denner – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Richard Fenyes – Simpson Thacher & Bartlett; Pia Figuerola – Simpson Thacher & Bartlett; Matthew Hart – Simpson Thacher & Bartlett; Andrew Kofsky – Simpson Thacher & Bartlett; Noreen Lavan – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Alyssa Ohanian – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Matthew Petrone – Simpson Thacher & Bartlett; Alysha Sekhon – Simpson Thacher & Bartlett; Adam Shapiro – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Patrick Wolff – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Global Medical Response;

Author: Ambrogio Visconti