Bristow to redeem 7¾% notes due 2022 using new note proceeds

By Taylor Fox

New York, Feb. 8 – Bristow Group Inc. plans to fully redeem and retire its $132 million outstanding 7¾% senior notes due 2022 using proceeds from its $400 million offering of senior secured notes due 2028, according to a news release.

The 2022 notes will be redeemed March 10 at par plus interest.

Wells Fargo Bank, NA (800 344-5128) is the trustee for the 2022 notes and the redemption agent.

The company also plans to use funds from the new notes to repay some term loans.

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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