Bristow Group enters into new long-term equipment financing for up to GBP55M

Bristow Group has entered into a new twelve-year secured equipment financing for an aggregate amount up to GBP55M with a syndicate of banks led by National Westminster Bank. The proceeds from the financing will be used to support Bristow’s capital commitments related to the 2nd generation UK search and rescue contract with the Department for Transport and the Maritime & Coastguard Agency of the United Kingdom. Bristow’s obligations will be secured by four new-delivery AgustaWestland AW139 search and rescue helicopters. The credit facility has a 15-month availability period and is expected to fund during 2024, subject to delivery of the new SAR helicopters.