Bristow Group Inc (VTOL) has released an update to notify the public and investors about an entry into a material definitive agreement.
Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
On January 24, 2024, Bristow Helicopters Limited (BHL) entered into a senior secured term loan facility agreement for up to GBP 55,000,000 to support its obligations to the UK’s Department for Transport and Maritime & Coastguard Agency. The funds can be drawn in up to four instances within 15 months and will mature on March 31, 2036, with interest at the Sterling Overnight Index Average plus 2.75%. The loan is guaranteed by BHL’s parent and affiliate companies and secured by helicopters and equipment, with mandatory prepayment events including loss or contract termination. BHL, as part of the arrangement, also guarantees the obligations under similar facility agreements of its affiliates BALL and BULL, which have been amended to reflect mutual guarantee provisions.
For further insights into VTOL stock, check out TipRanks’ Stock Analysis page.
