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HOUSTON, Jan. 24, 2024 /PRNewswire/ — Bristow Group Inc. (NYSE: VTOL) and its subsidiaries today announced that they have entered into a new twelve-year secured apparatus financing for a total amount of up to £55 million with a syndicate of banks led through National Westminster Bank Plc (“NatWest”). Proceeds from the funding will be used for Bristow’s capital commitments similar to the UK’s second-generation search and rescue (“UKSAR2G”) contract with the Department for Transport and Maritime.
“This new credit facility further strengthens our monetary position and will provide a successful transition of operations to the new UKSAR2G contract,” said Chris Bradshaw, president and chief executive officer of Bristow. “We would like to thank our banking partners for their support of Bristow and for helping us facilitate our continued expansion and success. “
Bristow’s obligations will be secured by four new-delivery AgustaWestland AW139 search and rescue (“SAR”) 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. The credit facilities will bear interest at a rate equal to the Sterling Overnight Index Average plus 2.75% per annum.
The banking syndicate NatWest, Clydesdale Bank PLC (trading as Virgin Money) and First-Citizens Bank.
About Bristow Group
Bristow Group Inc. es the world’s leading provider of sustainable, state-of-the-art vertical flight solutions. Bristow primarily supplies aviation to a broad base of marine energy corporations and government entities. The company’s aviation includes worker transportation, SAR, medical evacuation, fixed services. – transport wing, unmanned systems and ad hoc helicopters
Bristow lately has consumers in Australia, Brazil, Canada, Chile, the Dutch Caribbean, the Falkland Islands, India, Ireland, Mexico, the Netherlands, Nigeria, Norway, Spain, Suriname, Trinidad, the United Kingdom and the United States. information, our online page at www. bristowgroup. com.
Forward-Looking Statements Disclosure
This press release comprises “prospectuses. ” Forward-looking statements constitute Bristow Group Inc. ‘s (the “Company”) existing expectations or forecasts regarding long-term events. Forward-looking statements can sometimes be understood by the use of forward-looking terminology such as “possibly,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” or “continue. ” “, or other similar words. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, reflect management’s current views with respect to long-term events, and are therefore subject to risks and important uncertainties, known and unknown. The Company’s actual effects would likely differ materially from those expected in the prospective years. The Company cautions investors not to place undue reliance on forward-looking announcements. Forward-looking statements speak only as of the date of the document on which they are made. The Company disclaims any legal responsibility or obligation to provide any updates or revisions to any forward-looking statements to reflect any change in the Company’s expectations or any change in occasions, situations or cases on which the forward-looking statement is based and which are produced after the date. from this.
Risks that could potentially include forward-looking statements include, but are not limited to: public health crises, such as pandemics (including COVID-19) and epidemics, and any similar government policies and movements; any failure to adequately manage and achieve expected returns from acquisitions, divestitures, investments, joint ventures and other portfolio movements; our inability to execute our business strategy for diversification efforts similar to government facilities, offshore wind energy and complex air mobility; our dependence on a limited number of consumers and the relief of our visitor base following consolidation and/or transition of power; the possibility of cyber attacks or security breaches that may simply disrupt operations, compromise confidential or sensitive information, damage reputation, disclose it to legal authority or result in monetary loss; the option that we may not be able to enforce the terms of our financing agreements; global and regional adjustments in oil and fuel demand, supply, costs or other market situations, including adjustments resulting from a public capacity crisis or the imposition or lifting of crude oil production quotas or other moves possibly imposed on through the United Nations. Oil Exporting Countries (OPEC) and other generating countries; fluctuations in demand for our facilities; the option that we may possibly write down our long-lived assets and other assets, adding inventory, property, plant and apparatus and investments in unconsolidated affiliates; the option to make significant adjustments to exchange rates and controls; the possible effects of increased partying and the arrival of chosen transportation modes and solutions; the option that we may not be able to redeploy our aircraft to spaces with greater needs; the option of adjustments in taxes and other laws, regulations and policies, including, without limitation, movements through governments that have an effect on oil and fuel operations or announce renewable energy projects; the option that we may not be able to dispose of older aircraft by promoting them on the secondary market; general economic situations, adding capital and credit markets; the option for quantities of our fleet to potentially be grounded for extended periods or indefinitely (including due to severe weather events); lifestyles of the operational hazards inherent to our business, adding the option of a decrease in protection performance; the option of political instability, war or acts of terrorism in any of the countries in which we operate; the option that discounts on spending on aviation facilities through government agencies for which we seek contracts may also have an adverse effect or lead to adjustments in the procurement procedure or that such discounts on spending may also have an adverse effect negative on the terms of the SAR contract or delaying service or receipt of invoices under such contracts; the effectiveness of our environmental, social and governance initiatives; the effect of supply chain disruptions and inflation and our ability to recover the increasing costs of tariffs we charge our consumers; and our dependence on a limited number of helicopter brands and suppliers and the effect of the unavailability of mandatory aircraft factors and quantities for the maintenance and upkeep of our helicopters, adding significant delays in the delivery of quantities to our S92 fleet.
If one or more of the foregoing risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on our forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties, and other unpredictable factors, many of which are beyond our control. Our forward-looking statements are based on the information currently available to us and speak only as of the date hereof. New risks and uncertainties arise from time to time, and it is impossible for us to predict these matters or how they may affect us. We have included important factors in the section entitled “Risk Factors” in the Company’s Transition Report on Form 10-KT for the nine-month transition period ended December 31, 2022 (the “Transition Report”) and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 which we believe over time, could cause our actual results, performance, or achievements to differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements. You should consider all risks and uncertainties disclosed in the Transition Report and in our filings with the United States Securities and Exchange Commission (the “SEC”), all of which are accessible on the SEC’s website at www.sec.gov.
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SOURCE Bristow Group