Bristow Group Inc. (NYSE: BRS) has announced the pricing of its previously announced private offering of USD 350 million aggregate principal amount of 8.75% senior secured notes due 2023, the company said.
The offering was upsized from a previously announced amount of USD 300 million. The closing of the offering is expected to occur on March 6, 2018 and is subject to the satisfaction of customary closing conditions.
The notes will mature on March 1, 2023, subject to earlier mandatory redemption if more than USD 125 million principal amount of the company´s existing senior notes due 2022 remains outstanding as of June 30, 2022.
Bristow Group Inc. is the global industrial aviation services provider offering helicopter transportation, search and rescue (SAR) and aircraft support services, including maintenance and training, to government and civil organizations worldwide. Bristow has major operations in the North Sea, Nigeria and the US Gulf of Mexico, and in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Russia and Trinidad. Bristow provides SAR services to the private sector worldwide and to the public sector for all of the UK on behalf of the Maritime and Coastguard Agency.