CHC Helicopter Corporation Prices Private Placement of Senior Subordinated Notes due 2014
22 April 2004 - 3:05AM
PR Newswire (US)
CHC Helicopter Corporation Prices Private Placement of Senior
Subordinated Notes due 2014 ST. JOHN'S, NL, April 21 /PRNewswire/
-- CHC Helicopter Corporation (TSX: FLY.A and FLY.B; NYSE: FLI)
announced today that it has priced an offering pursuant to Rule
144A and Regulation S of the U.S. Securities Act of 1933, as
amended, of US $250 million aggregate principal amount of 7 3/8%
senior subordinated notes due May 1, 2014, issued at a discount of
99.455% to yield 7.453%. The notes are guaranteed by each of the
Company's subsidiaries that guarantee the Company's senior credit
facility. Closing is anticipated to occur on April 26, 2004. The
net proceeds of the offering will be used to settle the Company's
tender offer and related consent solicitation in respect of its
outstanding (euro) 94.3 million 11 3/4% Senior Subordinated Notes
due 2007, including payment of the related premium, accrued
interest and related fees and expenses. The Company will use the
balance of the net proceeds of the offering to repay or refinance
outstanding indebtedness. The notes will be offered in the United
States to qualified institutional buyers pursuant to Rule 144A
under the U.S. Securities Act of 1933, as amended. Certain of these
securities may also be offered to non-U.S. persons outside of the
United States pursuant to Regulation S under the Securities Act.
The notes will not be and have not been registered under the
Securities Act, or any state securities laws, and will not be
offered or sold in the United States absent registration under, or
an applicable exemption from, the registration requirements of the
Securities Act and applicable state securities laws. The notes will
not be offered in Canada other than pursuant to exemptions from
prospectus requirements of applicable securities laws. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy the notes, nor shall there be any sale of the notes
in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state. The notes may be offered only by
means of an offering memorandum. DATASOURCE: CHC Helicopter
Corporation CONTACT: Jo Mark Zurel, Senior Vice-President &
Chief Financial Officer, (709) 570-0567; Derrick Sturge, Vice
President Finance & Corporate Secretary, (709) 570-0713; Chris
Flanagan, Director of Communications, (709) 570-0749
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