Bristow Enters Into New Long-Term Equipment Financing For Up To £55 Million
Portfolio Pulse from Benzinga Newsdesk
Bristow Group Inc. (NYSE:VTOL) has secured a new twelve-year equipment financing deal for up to £55 million with a bank syndicate led by NatWest to support its capital commitments for the UKSAR2G contract. The financing, backed by four new AW139 SAR helicopters, will fund in 2024 and bears interest at SOIA plus 2.75% per annum. The syndicate includes NatWest, Virgin Money, and First-Citizens Bank & Trust Company.
January 24, 2024 | 9:02 pm
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Bristow Group Inc. has entered into a significant equipment financing agreement to support its UKSAR2G contract, which is expected to enhance its financial stability and operational readiness.
The new financing deal is directly related to Bristow Group's operations and is likely to be viewed positively by investors as it provides financial support for the company's capital commitments. The backing by a syndicate of banks, including NatWest, adds credibility and indicates a vote of confidence in Bristow's business plan.
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