Bristow Group Announces Redemption of its 7 1/2% Senior Notes due 2017
Bristow Group (NYSE: BRS), a leading provider of helicopter services to the worldwide offshore energy industry, announced today that it had called its outstanding 7½% Senior Notes due 2017 for redemption on October 31, 2012. The face value of the notes is $11.9 million, and the cost to redeem the notes is expected to be approximately $12.3 million. The redemption price will be 103.750% of the principal amount thereof plus any accrued and unpaid interest to the redemption date. Bristow plans to use proceeds from its offering of $450 million aggregate principal amount of 6¼% Senior Notes due 2022 to fund the redemption.
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