Debevoise Advises CHC Group in $145 Million Asset-Based Loan Financing

8 July 2015

A team from the New York and London offices of Debevoise & Plimpton LLP advised CHC Group Ltd. (“CHC”) (NYSE: HELI), a portfolio investment of Clayton, Dubilier & Rice (“CD&R”), in connection with a $145 million asset-based loan (“ABL”) revolving credit facility. The ABL facility is the first financing of its kind by a helicopter operator. Proceeds of the facility will be used to finance the acquisition of helicopters and certain related equipment.

CHC Helicopter is a leading global provider of offshore flying services to the global oil-and-gas industry, utilizing one of the industry’s largest fleets of heavy and medium commercial helicopters from about 70 bases on six continents. The company also flies search-and-rescue and emergency-medical missions for oil and gas companies, government agencies and other customers. CHC’s Heli-One segment is the leading independent global commercial provider of helicopter maintenance, repair and overhaul, servicing CHC’s own fleet as well as third-party customers.

Founded in 1978, CD&R is a private equity firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses. Since inception, CD&R has managed the investment of $19 billion in 59 U.S. and European businesses with an aggregate transaction value of approximately $90 billion.

The Debevoise team is led by partners David A. Brittenham and Geoffrey P. Burgess, associates Zahra J. K. Sowder, Patrick Moore, Ann Stillman, Benjamin Collins-Wood, Almas Daud, Samuel M. Duncan, Daniel N. Fasanello, and David A. Hamell, and trainee Mark McCloskey.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.