OTTAWA, Dec. 10 /CNW Telbec/ - Export Development Canada (EDC), CHC
Helicopter Corporation (CHC) and The Royal Bank of Scotland (RBS) today
announced that EDC has provided USD 225 million to expand an existing Master
Operating Lease Facility between CHC and RBS Aerospace to USD 450 million.
EDC's participation in the facility will provide CHC with additional
capacity to finance a variety of different aircraft types as it grows its core
services. The lease facility expansion is available for funding until May 31,
2009 and will be utilized to finance in excess of 15 aircraft.
"This financing agreement is part of EDC's ongoing efforts to help
facilitate CHC's expansion of its export sales through its international
flight services," said Eric Siegel, EDC President and CEO. "CHC's vast fleet
includes many aircraft that incorporate parts manufactured by Canadian
Sylvain Allard, President and CEO of CHC said "we are delighted to have
obtained this additional lease financing from two of our major financing
partners, EDC and RBS, and we thank them for their excellent support of our
company's growth strategy."
CHC is the world's largest provider of helicopter services to the global
offshore oil and gas industry, with aircraft operating in more than
30 countries worldwide.
EDC is Canada's export credit agency, offering innovative commercial
solutions to help Canadian exporters and investors expand their international
business. EDC's knowledge and partnerships are used by 6,400 Canadian
companies and their global customers in up to 200 markets worldwide each year.
EDC is financially self-sustaining and is a recognized leader in financial
reporting, economic analysis and has been recognized as one of Canada's Top
100 Employers for seven consecutive years.
For further information:
For further information: Media contact: Phil Taylor, EDC Public Affairs,
(613) 598-2904, email@example.com; Rick Davis, Senior Vice President and Chief
Financial Officer, CHC, (604) 279-2471, (778) 999-0314