Bristow Group subsidiaries Bristow Norway and Bristow Helicopters entered into a $75 million ABL agreement with Barclays Bank as administrative agent.

According to a related 8-K filing, Barclays and Credit Suisse were joint leader arrangers and joint bookrunners.

The maximum amount of the ABL facility may be increased from time to time to a total of as much as $100 million, subject to the satisfaction of certain conditions, and any such increase would be allocated between the borrowers. The facility will mature five years from the date of the ABL agreement, subject to certain early maturity triggers related to maturity of other material debt or a change of control of the company.

Amounts borrowed under the agreement are secured by certain accounts receivable owing to the borrowers and the deposit accounts into which payments on such accounts receivable are deposited. All extensions of credit under the agreement are guaranteed on an unsecured basis by the company, and each borrower has guaranteed the other borrower’s obligations.

Houston-based Bristow Group is a provider of industrial aviation services offering exceptional transportation, search and rescue (SAR) and aircraft support services, including helicopter maintenance and training, to government and civil organizations worldwide.