D.A. Davidson, a team of capital market professionals, has priced and closed $160 million of industrial development revenue and revenue refunding bonds for Bridger Aerospace, a Montana-based aviation service provider.
The deal represents one of the largest taxable non-rated municipal ESG bonds in the nation.
The bond proceeds will assist Bridger Aerospace with the financing of two airplane hangars to be located at Gallatin Field in Belgrade, Montana and the acquisition of four new SuperScooper firefighting aircraft.
“Bridger Aerospace operates the largest and most sophisticated fleet of firefighting aircraft, and as it redefines its technology to meet the emerging challenges of wildland aerial firefighting, we are grateful for the opportunity to provide the financial solutions needed to support continued growth strategy,” said Kyle Thomas, managing director at D.A. Davidson.
Founded in 2014 and led by current Chief Executive Officer and former Navy SEAL Tim Sheehy, Bridger is a company focused on addressing the year-round threat of economic and environmental damage caused by wildfires.
Through its fleet of aircraft and FireTRAC, data gathering, aerial surveillance and reporting platform, Bridger provides its federal agency and state government client base with a range of aerial firefighting solutions.
