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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