05:11 PM EDT, 06/12/2024 (MT Newswires) -- Bristow (VTOL) said late Wednesday its UK subsidiary Bristow Leasing got an export development guarantee term-loan facility of up to 100 million euros ($108.1 million) with NatWest as the original lender and UK Export Finance guaranteeing 80% of the facility.

Funds will be used to back Bristow's capital commitments for a project related to search and rescue operations in Ireland, the company said.

"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," Bristow Chief Executive Officer Chris Bradshaw said.

Bristow's obligations will be secured by five Leonardo AW189 helicopters, the company said.