NEWS | CA Restructuring CHC     Canadian Helicopter Corporation

CHC Completes $500M Recapitalization

Global helicopter operator CHC completed recapitalization transaction to reduce its funded debt obligations by up to $500 million

CHC Completes $500M Recapitalization
CHC, August 19, 2022 - Dallas, Texas – CHC Group LLC (CHC), the global rotary wing aviation services provider, is pleased to announce a comprehensive recapitalization transaction to significantly reduce its funded debt obligations by up to $500 million subject to regulatory approvals.

As part of the recapitalization, a substantial portion of CHC’s existing debt and equity holders agreed to provide over $100 million in new money and liquidity enhancing commitments, consisting of $60 million in an initial funding, an additional $30 million of available commitments, and $10 million from adjustments to its aircraft financing facilities.

This transaction represents the culmination of extensive negotiations with CHC’s key financial stakeholders over the preceding months. CHC believes this transaction provides the liquidity and sustainable long‐term capital structure necessary to focus its efforts on continued operational excellence and providing its clients the safest and most reliable helicopter services worldwide.

“Today marks a significant, positive step forward for CHC providing a clear path to a significantly reduced debt burden for the company which will benefit our customers, suppliers, and employees,” said David Balevic, Chief Executive Officer of CHC Group, LLC. “Our enhanced balance sheet will provide us greater operating flexibility to meet the rapidly changing rotary wing aviation market.”

CHC was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP, Moelis & Company, and AlixPartners, LLP. CHC’s financial stakeholders participating in the transaction were advised by Ropes & Gray LLP and FTI Consulting, Inc.

About CHC: For more than 75 years, CHC Helicopter has provided safe, reliable, cost‐effective helicopter service in some of the most remote and challenging environments around the world. With extensive experience transporting customers in the oil and gas industry, supporting search‐and‐rescue and EMS contracts, and providing maintenance, repair and overhaul services, our dedication to safety and reputation for quality and innovation help our customers reach beyond what they thought possible.

  See also

CA Restructuring CHC     Canadian Helicopter Corporation
Oil and Gas Industry in International
helicopter Helicopters Markets & Finance

Helicopters for sale
Future helicopters
Flying a helicopter
Helicopter stories
TV and movies

Helicopter books
Helicopter patches
Helicopter model kits