Bristow Group Prices $500 Million Senior Secured Notes Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 15 2026
0mins
Should l Buy VTOL?
Source: Yahoo Finance
- Upsized Offering: Bristow Group announced the pricing of $500 million in senior secured notes at a 6.75% interest rate, expected to close on January 26, 2026, which will enhance the company's capital structure and support future growth.
- Collateral Structure: The notes will be fully guaranteed by the company's existing wholly-owned subsidiaries and secured by 119 helicopters and other assets, ensuring investor security and confidence in the offering.
- Clear Use of Proceeds: Bristow intends to use a portion of the net proceeds to fully redeem its 2028 senior secured notes, expected to occur on March 1, 2026, thereby alleviating future financial burdens and improving cash flow management.
- Compliance and Market Positioning: The offering adheres to Rule 144A under the Securities Act, targeting qualified institutional buyers, which underscores Bristow's compliance and strategic positioning in the global market, further solidifying its leadership in the aviation services industry.
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Analyst Views on VTOL
Wall Street analysts forecast VTOL stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 44.260
Low
45.00
Averages
48.50
High
52.00
Current: 44.260
Low
45.00
Averages
48.50
High
52.00
About VTOL
Bristow Group Inc. is a provider of vertical flight solutions. The Company primarily provides aviation services to a broad base of offshore energy companies and government entities. Its aviation services include personnel transportation, search and rescue (SAR), medevac, fixed-wing transportation, unmanned systems, and ad-hoc helicopter services. Its business consists of three operating segments: Offshore Energy Services, Government Services and Other Services. Its energy customers charter its helicopters primarily to transport personnel to, from and between onshore bases and offshore production platforms, drilling rigs and other installations. Its government customers primarily outsource SAR activities whereby the Company operates specialized helicopters and provides highly trained personnel. Its other services include fixed-wing transportation services through a regional airline and dry-leasing aircraft to third-party operators in support of other industries and geographic markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Credit Facility Extension: The company has extended the maturity of its asset-based revolving credit facility to 2031 while reducing total commitments from $85 million to $70 million, optimizing liquidity management.
- Debt Repayment: A portion of the proceeds from the offering was used to repay approximately $397 million of 6.875% senior secured notes due 2028, ensuring satisfaction and discharge of the debt, thereby reducing financial risk.
- Compliance Statement: The notes were offered in compliance with Rule 144A of the Securities Act of 1933, ensuring adherence to regulations for qualified institutional buyers, while not being registered in the U.S., thus mitigating legal risks.
See More
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- Credit Facility Extension: The company has extended the maturity of its asset-based revolving credit facility to 2031 while reducing total commitments from $85 million to $70 million, enhancing liquidity.
- Debt Repayment: A portion of the proceeds from the offering was used to repay approximately $397 million of outstanding 6.875% senior secured notes due 2028, discharging the related indenture and releasing the associated liens.
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- Aircraft Specifications: The EL9 is designed to carry nine passengers or up to 3,000 pounds of cargo, with the capability to take off and land in spaces as short as 150 feet, making it suitable for corporate, leisure, airline, and government mobility services.
- Future Expansion Options: The agreement includes options for Bristow to acquire up to 45 additional aircraft on the same terms, indicating the company's positive outlook on future market demand.
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