#Ireland
NEWS | AW189 in IE Bristow Ireland

Bristow Secures €100M Government Financing for Irish Coastguard

Bristow Leasing Ltd secures up to €100 million from UK Export Finance for the acquisition of five new Leonardo AW189 SAR-configured helicopters to be used in the Irish Coast Guard contract

Six AW189 helicopters, including backups, will operate 24/7 from Sligo, Shannon, Waterford, and Dublin Weston, starting in Q4 2024





Bristow Secures €100M Government Financing for Irish Coastguard
Bristow, June 13, 2024 - HOUSTON - Bristow Group Inc. announced that Bristow Leasing Limited, a UK subsidiary, has entered into a new Export Development Guarantee term-loan facility for an aggregate amount of up to €100 million with National Westminster Bank Plc ("NatWest") as the original lender and UK Export Finance guaranteeing 80% of the facility (the "UKEF Debt").

The proceeds from the financing will be used to support Bristow's capital commitments related to the next generation of search and rescue ("SAR") operations in Ireland.

UK Export Finance is the UK's export credit agency and provides the Export Development Guarantee product to support the working capital and capital expenditure needs of UK exporters that meet certain criteria.

Chris Bradshaw, Bristow's President and Chief Executive Officer said "The proceeds from the UKEF Debt will enhance our financial flexibility as Bristow grows its leading government services business with the new Irish Coast Guard contract investments. We would like to thank NatWest and UK Export Finance for their confidence in Bristow and for helping facilitate our continued success."

Bristow's obligations will be secured by five new-delivery Leonardo AW189 SAR-configured helicopters. The UKEF Debt has a two-year availability period followed by a five-year term and is expected to fund during 2024, subject to delivery of the new SAR-configured helicopters. The UKEF Debt will bear interest at a rate equal to the Euro Interbank Offered Rate ("EURIBOR") plus 1.95% per annum.

About Bristow Group : Bristow Group Inc. (NYSE: VTOL) is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of offshore energy companies and government entities. The Company's aviation services include personnel transportation, search and rescue "SAR", medevac, fixed-wing transportation, unmanned systems, and ad hoc helicopter services.

Bristow currently has customers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, the Falkland Islands, India, Ireland, the Kingdom of Saudi Arabia, Mexico, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the UK and the U.S. To learn more, visit our website at www.bristowgroup.com.


  See also


AW189 in IE Bristow Ireland
AW189 in IE Garda Cósta na hÉireann
UK UK Government     Her Majesty's Government
helicopter Helicopters Markets & Finance




HeliTSA

entrol


az








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

Helicopter books
Helicopter patches
Helicopter model kits


HeliTSA

entrol


az