Bristow Group Inc. Reports New Financial Obligation

TL;DR

Bristow just took on a new financial obligation, details TBD.

AI Summary

On June 24, 2024, Bristow Group Inc. filed an 8-K report detailing a new financial obligation. The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, though specific details of the obligation, including dollar amounts and counterparties, are not provided in this summary section.

Why It Matters

This filing signals a new financial commitment for Bristow Group Inc., which could impact its financial health and future investment decisions.

Risk Assessment

Risk Level: medium — The creation of a new financial obligation, without immediate disclosure of its terms, introduces uncertainty regarding the company's financial future.

Key Players & Entities

• Bristow Group Inc. (company) — Registrant
• June 24, 2024 (date) — Date of earliest event reported
• 3151 Briarpark Drive, Suite 700, Houston, Texas 77042 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — hange on which registered Common Stock $0.01 par value VTOL NYSE Item 2.03 Creatio

Filing Documents

• vtol-20240624.htm (8-K) — 30KB
• 0001525221-24-000053.txt ( ) — 175KB
• vtol-20240624.xsd (EX-101.SCH) — 2KB
• vtol-20240624_def.xml (EX-101.DEF) — 13KB
• vtol-20240624_lab.xml (EX-101.LAB) — 24KB
• vtol-20240624_pre.xml (EX-101.PRE) — 14KB
• vtol-20240624_htm.xml (XML) — 3KB

03 Creation of a Direct Financial Obligation

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.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1 Facilities Agreement, dated as of June 12, 2024 (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed on June 14, 2024). 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.

Signatures

Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BRISTOW GROUP INC. Date: June 26, 2024 By: /s/ Jennifer D. Whalen Name: Jennifer D. Whalen Title: Senior Vice President, Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR