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Bristow Group to repay term loans using note offering proceeds
By Taylor Fox
New York, Feb. 8 – Bristow Group Inc. plans to repay its $152 million outstanding secured equipment term loan with Macquarie Bank Ltd. and $203.9 million outstanding term loan with PK AirFinance Sarl using proceeds from its $400 million offering of senior secured notes due 2028, according to a news release.
The company intends to terminate the term loan credit agreements relating to the term loans.
The company also plans to use funds from the new notes to redeem its 7¾% senior notes due 2022.
The offering of new notes is not conditioned on the redemption of the existing notes or on the repayment of the term loans, the company noted.
Bristow is a Houston-based offshore transportation services provider to the oil and gas industry.
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