Erickson Air-Crane talks $400 million seven-year notes at 8¼% area

By Aleesia Forni and Paul Deckelman

Virginia Beach, Va., April 23 - Erickson Air-Crane Inc. has set talk for its proposed $400 million offering of seven-year second-priority senior secured notes (/B/) in the area of 8¼%, according to a market source.

The company is conducting a roadshow, which is set to run through April 24.

Pricing is expected during the April 22 week.

Deutsche Bank Securities Inc. is the left bookrunner. Wells Fargo Securities LLC is the joint bookrunner. Stifel Nicholas and Imperial Capital are the co-managers.

The Rule 144A and Regulation S with registration rights notes become callable in three years at par plus 75% of the coupon. A special call provision allows the issuer to redeem 10% of the notes annually during the non-call period.

The Portland, Ore.-based provider of helicopter lift services plans to use the proceeds to fund the acquisitions of Evergreen Helicopters, Inc. and Air Amazonia and to refinance debt.

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