Bristow Group filed a Chapter 11 plan of reorganization and a related disclosure statement with the U.S. Bankruptcy Court for the Southern District of Texas. Ankura Trust is serving as DIP administrative agent for a $150 term loan.
Bristow Group has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. Its lenders provided a commitment for $75 million in debtor-in-possession financing that would be available upon Court approval.
Bristow Group subsidiaries Bristow Norway and Bristow Helicopters entered into a $75 million ABL agreement with Barclays Bank as administrative agent.
Helicopter leasing company Milestone Aviation announced it closed a new $300 million credit facility to acquire and lease helicopters valued at $400 million. Lloyds Bank was the mandated lead arranger for the facility.