Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Investing.com -- Bridger Aerospace Group Holdings Inc (NASDAQ:BAER) stock surged 21.8% in premarket trading Wednesday after the aerial firefighting company announced a new senior secured facility of up to $331.5 million led by Bain Capital’s Private Credit Group.
The financing package represents a significant milestone for Bridger, allowing the company to refinance its $160 million municipal bond with Gallatin County, consolidate existing debt, and provide capacity for future fleet expansion. The deal comes alongside a recently finalized sale-leaseback of the company’s Bozeman Yellowstone International Airport campus facilities.
The $331.5 million facility consists of a $21.5 million revolving credit facility, a $210 million senior secured term loan, and a $100 million fleet expansion facility. This structure is designed to support Bridger’s growth plans as it continues to expand its aerial firefighting operations.
"This financing marks a turning point for Bridger," said Sam Davis, Bridger’s CEO. "Our strong quarterly results and our expectations for a second record year have made it possible for us to refinance our existing debt and enter into a new expanded debt facility with increased capacity."
David Healey, a Managing Director at Bain Capital, expressed confidence in the company’s direction, stating, "We are proud to support Bridger’s next phase of growth as they continue to lead the way in innovative wildfire solutions."
Bridger Aerospace, one of the nation’s largest aerial firefighting companies, provides services through federal, state, and defense contracts that have established its revenue model on a year-round basis. The company plans to use the new financial flexibility to fund aircraft purchases that support contract expansion.
Stifel, Nicolaus & Company served as the sole debt placement agent and financial advisor on the transaction, with Crestline Direct Finance serving as joint lead arranger.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.