Bristow Group Inc. and its subsidiaries announced that it has entered into a new twelve-year secured equipment financing for an aggregate amount up to £55 million with a syndicate of banks led by National Westminster Bank Plc ("NatWest"). The proceeds from the financing will be used to support Bristow's capital commitments related to the 2nd generation UK search and rescue ("UKSAR2G") 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 ("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 includes NatWest, Clydesdale Bank PLC (trading as Virgin Money) and First-Citizens Bank & Trust Company.