Bristow Group calls its $230 million of 6 1/8% senior notes due 2013

By Melissa Kory

Cleveland, Nov. 23 - Bristow Group Inc. announced that it will redeem its $230 million of 6 1/8% senior notes due 2013 for $232.7 million.

The notes will be redeemed on Dec. 23 at 101.021% plus accrued interest to the redemption date.

Bristow plans to use borrowings under its new $375 million secured bank credit agreement to fund the redemption.

Bristow expects to recognize a non-cash expense on retirement of the notes of $2.4 million pre-tax related to unamortized debt issuance cost.

Bristow is a Houston-based provider of helicopter services to the offshore energy industry.

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