Bristow Group BRS, the
leading provider of helicopter services to the worldwide offshore energy
industry, announced today the closing of its offering of $450 million
aggregate principal amount senior notes due 2022 (the "Notes") pursuant to a
registration statement filed with the Securities and Exchange Commission (the
"Commission").
The Notes will bear interest at a rate of 6.25% per annum and will mature on
October 15, 2022. The net proceeds from the sale of the Notes were
approximately $442.8 million (after deducting underwriting discounts and
commissions and estimated expenses).
The company intends to use the net proceeds from the offering to fund its
concurrent tender offer for its 7½% senior notes due 2017 and, if applicable,
to redeem any and all of its 7½% senior notes due 2017 that have not been
accepted and paid for in the tender offer and to pay related fees and
expenses, and to use the remaining net proceeds from this offering for general
corporate purposes, including the repayment or repurchase of other
indebtedness.
Credit Suisse Securities (USA) LLC and SunTrust Robinson Humphrey, Inc. acted
as joint global coordinators and joint book-running managers and
representatives of the underwriters. The other joint book-running managers
included Merrill Lynch, Pierce, Fenner & Smith Incorporated Inc., Citigroup
Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities,
LLC. HSBC Securities (USA) Inc. and U.S. Bancorp Investments, Inc. acted as
co-managers.
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