Bristow Group Inc Says Co Entered Into A Restructuring Support Agreement on May 10 [Reuters]
BRISTOW GROUP (BRS)
Last bristow group earnings: 2/11 04:33 pm
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Source: Reuters
Bristow Group Inc (BRS.N) Key Developments | Reuters.com May 11 (Reuters) - Bristow Group Inc ::COMMENCES VOLUNTARY CHAPTER 11 PROCEEDINGS TO RESTRUCTURE AND STRENGTHEN BALANCE SHEET.FILINGS INCLUDE CERTAIN U.S. ENTITIES AND CAYMAN ISLANDS SUBSIDIARIES; ALL OTHER NON-U.S. ENTITIES EXCLUDED FROM FILINGS.COMPANY HAS VOLUNTARILY FILED FOR CHAPTER 11 PROTECTION IN U.S. BANKRUPTCY COURT FOR SOUTHERN DISTRICT OF TEXAS.CO INTENDS TO USE PROCEEDINGS TO RESTRUCTURE AND STRENGTHEN ITS BALANCE SHEET AND ACHIEVE A MORE SUSTAINABLE DEBT PROFILE.ALL OF CO'S BUSINESSES ARE OPERATING IN ORDINARY COURSE AND ARE ANTICIPATED TO CONTINUE TO DO SO FOR DURATION OF CHAPTER 11 PROCESS.CHAPTER 11 FILINGS PERTAIN TO CERTAIN OF BRISTOW'S LEGAL ENTITIES IN UNITED STATES AND TWO OF ITS CAYMAN ISLANDS SUBSIDIARIES.CERTAIN SENIOR SECURED NOTEHOLDERS MADE A $75 MILLION TERM LOAN TO COMPANY PRIOR TO COURT FILING.CERTAIN SENIOR SECURED NOTEHOLDERS PROVIDED COMMITMENT FOR FURTHER $75 MILLION IN DEBTOR-IN-POSSESSION FIN
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