With over six decades of aviation solutions crossing the globe, Bristow is the world’s leading provider of helicopter transportation to energy customers, search and rescue (SAR) and aircraft support solutions to government and civil organisations across the world. 

Bristow offers the latest training and safety standards and includes a fleet of the industry’s most modern aircraft, targeting the growing demand for reliable and integrated aviation solutions.

Having been awarded the UK Search & Rescue helicopter contract from the Maritime and Coastguard Agency in 2013 and the UKSAR2G contract in 2022 (to start in October this year), Bristow Group’s Ireland subsidiary signed a contract with the Department of Transport for the provision of SAR services for the Irish Coast Guard in 2023. 

Looking for a suitable financing package to acquire five new AgustaWestland AW189 aircraft to provide SAR services to the Irish Coast Guard, Bristow approached us as their long-standing banking partner to discuss lending options.  

In 2023, we had agreed a £137.7 million loan facility with Bristow and, earlier this year, a £55 million increase to these debt facilities to fund the purchase of aircraft for the UK Search & Rescue helicopter contract.

In the role of mandated lead arranger, structuring bank, lender, facility and security agent, the NatWest team provided a bilateral €100 million Export Development Guarantee term loan for Bristow, of which 80% was guaranteed by UK Export Finance (UKEF), the UK government’s export credit agency. NatWest worked closely with UKEF and Bristow to structure and achieve this innovative financing, combining an Export Development Guarantee with asset financing terms. This unique collaboration worked to help Bristow achieve their goals, providing an efficient pricing outcome whilst also being a reliable financing option to extend their life-saving SAR operations to Ireland.

Chris Bradshaw, President and Chief Executive Officer of Bristow, commented: “The proceeds from the UKEF Debt will enhance our financial flexibility as Bristow grows its leading government services business with the new Irish Coast Guard contract investments. We would like to thank NatWest and UK Export Finance for their confidence in Bristow and for helping facilitate our continued success.”

Jacob Lloyd, Specialist Asset Finance, NatWest, added: “We are delighted to support Bristow with this new funding, and are proud to help our customer continue their critical work delivering life-saving missions across Ireland, the UK, and around the world.”