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Montana firm taps bond market for aerial firefighting fleet expansion – Bond Buyer

Municipal bonds will fund the enlargement of an aerial hearthfighting agency that has developn shortly To fulfill demand pushed by huge wildhearths Which have plagued Western states for the previous a quantity of yrs.

Belgrade, Montana-based mostly Bridger Aerospace Group has developn to 160 staff since chief authorities Tim Sheehy, a former Navy SEAL And accredited pilot, based the agency eight yrs in the past.

D.A. Davidson and Jefferies are getting ready To value $160 million in unrated federally and state taxable industrial enhancement income bonds To assist further enlargement. The date hasn’t been set on the bonds, Neverthemuch less the bankers anticipate to convey the deal in mid to late June, said Kyle Thomas, a D.A. Davidson managing director. JMG Attorneys is bond counsel.

The Super Scooper hearth suppression plane can drop 50,000 gallons of water earlier than refueling, Based on bond paperwork.

Bridger Aerospace Group

“Sadly, There was A lot of demand for forest hearth suppression belongings Inside the U.S.,” said McAndrew Rudisill, Bridger’s chief funding officer and a director.

The deal being purchased by way of conduit Gallatin County, Montana, will refund $7.6 million of income bonds; pay $133 million So as to add 4 CL-415EAF Super Scooper planes at A worth of $28 million every to its fleet, of which two have already been destayred; and assemble two hangers on the Belgrade campus shut to Bozeman Yellowstone Worldwide Airport to convey The …….

Source: https://www.bondbuyer.com/news/montana-firm-taps-bond-market-for-aerial-firefighting-fleet-expansion

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