ERA Group talks $200 million 10-year notes with 7¾% area yield

By Paul A. Harris

Portland, Ore., Dec. 3 - ERA Group Inc. talked its $200 million offering of 10-year senior notes (B2/B) with a yield in the 7¾% area, a market source said on Monday.

The deal is set to price on Tuesday.

Joint bookrunners Deutsche Bank Securities Inc. and Wells Fargo Securities LLC will bill and deliver. J.P. Morgan Securities LLC and Goldman Sachs & Co. are also joint bookrunners.

SunTrust Robinson Humphrey Inc., Cowen & Co., Comerica Securities and Williams Capital Group LP are the co-managers.

The Rule 144A and Regulation S for life notes, which come with five years of call protection, represent ERA Group's debut in the high-yield market.

Proceeds will be used to repay revolving credit facility debt.

Era Group is a wholly owned subsidiary of Seacor Holdings Inc., a Houston-based helicopter transport operator primarily servicing the energy industry.

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