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Last updated on April 16, 2014 at 12:40 EDT

Bristow Group Announces Closing of $450 Million Senior Notes Offering

October 12, 2012

HOUSTON, Oct. 12, 2012 /PRNewswire/ — Bristow Group Inc. (NYSE: 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.

ABOUT BRISTOW GROUP INC.

Bristow Group Inc. is the leading provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated and one of two helicopter service providers to the offshore energy industry with global operations. Bristow has major transportation operations in the North Sea, Nigeria and the U.S. Gulf of Mexico, and in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Brazil, Canada, Russia and Trinidad. For more information, visit Bristow’s website at www.bristowgroup.com.

FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements reflect our views and assumptions on the date of this press release regarding future events. They involve known and unknown risks, uncertainties and other factors, many of which may be beyond our control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include statements discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year-ended March 31, 2012 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2012. We do not undertake any obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Linda McNeill
Investor Relations
(713) 267-7622

SOURCE Bristow Group Inc.


Source: PR Newswire