Bristow Group Inc. (OTC: BRSWQ) has announced it has commenced a cash tender offer to purchase its 8.75% senior secured notes due 2023 for USD 350m, the company said.
The tender offer will expire at midnight, New York City time, at the end of the day on September 9, 2019, or any other date and time to which the Company extends such Tender Offer (such date and time, as it may be extended.
The company will purchase any notes that have been validly tendered and not validly withdrawn at or prior to the Expiration Date and that it accepts for purchase, subject to all conditions to the Tender Offer having been either satisfied or waived (if permitted) by the Company, promptly following the Expiration Date, subject to the Aggregate Maximum Tender Amount and proration.
Although there is a commitment in place with respect to the DIP Facility, such facility is ultimately subject to approval by the Bankruptcy Court, which has not yet been obtained. The Company´s obligation to complete the Tender Offer is conditioned upon the execution of the DIP Facility, following approval by the Bankruptcy Court, and the receipt of funds thereunder sufficient to pay the Tender Offer Consideration (including accrued interest) and related fees and expenses.
Bristow Group Inc. is an industrial aviation service provider offering helicopter transportation, search and rescue (SAR) and aircraft support services to government and civil organizations worldwide.