Bristow Group Enters Into New $200 Million, Seven-Year Equipment Financings | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-05.05.25

Airborne-NextGen-05.06.25

AirborneUnlimited-05.07.25

Airborne-Unlimited-05.01.25

AirborneUnlimited-05.02.25

Wed, Nov 16, 2016

Bristow Group Enters Into New $200 Million, Seven-Year Equipment Financings

Proceeds Will Finance Eight SAR Helicopters

Bristow Group Inc. and its subsidiaries have announced that it has entered into two seven-year GBP denominated secured equipment financings for an aggregate $200 million USD equivalent with Lombard, part of The Royal Bank of Scotland. The proceeds from the financings will be used to finance eight search and rescue (SAR) helicopters being utilized for the SAR contract with the U.K. Department for Transport.

"We would like to thank Lombard and The Royal Bank of Scotland for their support of Bristow. Nine of ten U.K. SAR bases are operational now and the final base is expected to be operational in mid-2017. These credit facilities increase our liquidity, term out debt through 2023, and demonstrate our access to capital as a leader in industrial aviation. We will continue to prudently manage our liquidity and balance sheet as we successfully manage through the current oil and gas industry downturn," said Bristow President and Chief Executive Officer Jonathan E. Baliff.

The credit facilities are expected to fund no later than the first quarter of calendar year 2017 and are subject to both U.K. and U.S. governmental approvals. Upon funding, the credit facilities will have seven-year terms with balloon payments at maturity, and Bristow's obligations will be secured by SAR helicopters, with one credit facility secured by three Sikorsky S-92 helicopters and the other credit facility secured by five Leonardo AW189 helicopters.

(Source: Bristow group news release. Image from file)

FMI: www.bristowgroup.com

Advertisement

More News

ANN's Daily Aero-Linx (05.06.25)

Aero Linx: International Federation of Airworthiness (IFA) We aim to be the most internationally respected independent authority on the subject of Airworthiness. IFA uniquely combi>[...]

ANN's Daily Aero-Term (05.06.25): Ultrahigh Frequency (UHF)

Ultrahigh Frequency (UHF) The frequency band between 300 and 3,000 MHz. The bank of radio frequencies used for military air/ground voice communications. In some instances this may >[...]

ANN FAQ: Q&A 101

A Few Questions AND Answers To Help You Get MORE Out of ANN! 1) I forgot my password. How do I find it? 1) Easy... click here and give us your e-mail address--we'll send it to you >[...]

Classic Aero-TV: Virtual Reality Painting--PPG Leverages Technology for Training

From 2019 (YouTube Edition): Learning To Paint Without Getting Any On Your Hands PPG's Aerospace Coatings Academy is a tool designed to teach everything one needs to know about all>[...]

Airborne 05.02.25: Joby Crewed Milestone, Diamond Club, Canadian Pilot Insurance

Also: Sustainable Aircraft Test Put Aside, More Falcon 9 Ops, Wyoming ANG Rescue, Oreo Cookie Into Orbit Joby Aviation has reason to celebrate, recently completing its first full t>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC