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Avfuel Corporation
The monthly news publication for aviation professionals.
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CHC Helicopter Group

BAN's World Gazetteer

The monthly news publication for aviation professionals.

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CHC completes $500,000,000 recapitalisation
A $500m recapitalisation by CHC has significantly reduced its debt, and will give the company greater operating flexibility to address the ever-changing the rotary wing sector.

CHC Group has completed a comprehensive recapitalisation transaction to significantly reduce its funded debt obligations by up to $500 million, subject to regulatory approvals. As part of the recapitalisation, a substantial portion of CHC's existing debt and equity holders agreed to provide over $100 million in new money and liquidity enhancing commitments, consisting of $60 million in an initial funding, an additional $30 million of available commitments and $10 million from adjustments to its aircraft financing facilities.

This transaction represents the culmination of extensive negotiations with CHC's key financial stakeholders over the preceding months. CHC believes this transaction provides the liquidity and sustainable long term capital structure necessary to focus its efforts on continued operational excellence and providing its clients the safest and most reliable helicopter services worldwide.

“Today marks a significant, positive step forward for CHC providing a clear path to a significantly reduced debt burden for the company, which will benefit our customers, suppliers and employees,” says chief executive officer David Balevic. “Our enhanced balance sheet will provide us greater operating flexibility to meet the rapidly changing rotary wing aviation market.”

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