Flying a helicopter
Helicopter stories
Accidents
Acronyms
Jobs new
Airliners
Airshows
Future helicopters
For Sale
Contact


Database

47301 serials
20294 photos
4018 heliports



facebook     twitter     google     linkedin


Sponsors

Viewpoint

Saxon


Promote Your Services Here




facebook     twitter     google     linkedin

Sponsored by
Viewpoint Saxon

Promote Here



Latest News

Bell 429 EMS for Heliand Andorra

Airbus Inaugurates Paris-Le Bourget Blades Site

Danish Retires Lynx. MH-60R First Deployment

Six Dutch CH-47D Chinooks to be Upgraded to F

Airbus Project Eagle Takes Flight

Christchurch Helicopters Recognized by HAI

San Diego Fire-Rescue Department to add Firehawk

Aurora Autonomous UH-1H in Quantico

55
Liked this

Newsletter #390     | News

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


Bristow secured equipment seven-year financings for u$s 200M to be used in 3 S-92 and 5 AW189 search and rescue (SAR) helicopters being utilized for the UK SAR contract


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


Bristow, November 14, 2016 - HOUSTON - Bristow Group Inc and its subsidiaries announced today 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.

About Bristow Group: Bristow Group Inc. is the leading global industrial aviation services provider offering helicopter transportation, search and rescue (SAR) and aircraft support services, including maintenance and training, to government and civil organizations worldwide. Bristow has major operations in the North Sea, Nigeria and the U.S. Gulf of Mexico, and in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Russia and Trinidad. Bristow provides SAR services to the private sector worldwide and to the public sector for all of the U.K. on behalf of the Maritime and Coastguard Agency.


This article is listed in :
UK Bristow
AgustaWestland AW189 in UKHM Coastguard
Sikorsky s-92 Helibus in UKHM Coastguard

Sponsors

Viewpoint

Saxon


Promote Your Services Here




facebook     twitter     google     linkedin

Sponsored by
Viewpoint Saxon

Promote Here