Financing ·
GMR Solutions Inc. completed a repricing of its $2.9 billion Term Loan B facility due October 2032, reducing the…
GMRSGMR Solutions Inc.
GMR Solutions Inc. completed a repricing of its $2.9 billion Term Loan B facility due October 2032, reducing the outstanding principal to approximately $2.7 billion by voluntarily repaying $200 million using cash on hand. The transaction lowered the interest rate margin from SOFR +325 basis points to SOFR +275 basis points, a reduction of 50 basis points, which is expected to generate approximately $28 million in annual cash interest expense savings. Additionally, the company used $32 million of cash on hand to satisfy payroll tax obligations related to the settlement of previously granted equity awards. Following these transactions, the company reported approximately $188 million in cash and cash equivalents against total debt of approximately $4.27 billion. GMR Solutions Inc. is the nation’s largest provider of emergency medical services (EMS), delivering air and ground care across approximately 1,400 U.S. counties.