Bristow Group Inc.
06/26/2024 | Press release | Distributed by Public on 06/26/2024 14:04
New Financial Obligation Form 8 K
| Item 2.03 | Creation of a Direct Financial Obligation. |
As previously disclosed, on June 12, 2024, Bristow Leasing Limited ("BLL"), as borrower, Bristow Group Inc. (the "Company"), as parent guarantor, Bristow Helicopters Limited ("BHL") and Bristow Aviation Holdings Limited, as guarantors ("BAHL" and, together with the Company and BHL, the "Guarantors"), the UK export facility lenders party thereto (the "UKEF Lenders"), the commercial facility lenders party thereto (the "Commercial Lenders" and, together with the UKEF Lenders, the "Lenders"), and National Westminster Bank Plc, as lead arranger, structuring bank, agent and security agent, entered into a Facilities Agreement (the "Facilities Agreement"), pursuant to which (i) the UKEF Lenders agreed to advance to BLL the sum of up to EUR 80,000,000.00 and (ii) the Commercial Lenders agreed to advance to BLL the sum of up to EUR 20,000,000.00 in order to enable BLL to finance, amongst other things, the acquisition of five new AgustaWestland AW189 aircraft that will be used by Bristow Ireland Limited, an indirect subsidiary of the Company, to service its contract with the Irish Department of Transport to provide search and rescue services to the Irish Coast Guard.
On June 24, 2024, the first Utilisation Date (as defined in the Facilities Agreement) occurred, and BLL borrowed EUR 22,672,076 of the total EUR 100,0000,000 available thereunder.