Bristow subsidary enters $200 million agreement with Macquarie Bank

Bristow AgustaWestland AW139

A subsidiary of Bristow Group has entered a $200 million loan agreement with Macquarie Bank.

The financing will be secured by 20 oil and gas aircraft and is expected to be fully funded by 31 March 2017.

Alongside the five-year secured equipment financing, Bristow plans to lease five helicopters for up to five years.

The proceeds from the loan are being used to repay outstanding existing term loan agreements.

Bristow Group also entered an agreement with Lombard for a $200 million five-year term secured term loan facility and Milestone for $230 million.

Borrower: Bristow Group
Date: Feburary 2017
Structure: Secured equipment financing
Pricing: LIBOR + 5.35
Term: Five-years
Assets: 20 oil and gas aircraft
Lessees: Macquarie Bank