Wednesday July 5, 12:53 pm Eastern Time
Company Press Release
SOURCE: CHC Helicopter Corporation
CHC Helicopter Corporation Completes Private Debt Offering
ST. JOHN'S, NF, July 5 /CNW-PRN/ - CHC Helicopter Corporation ("CHC'') (NASDAQ: FLYA - news; TSE: FLY.A - news and FLY.B - news) announced today that it has completed the sale of 145,000,000 Euros of Senior Subordinated Notes due 2007 (the "Notes''). The Notes bear interest at 11 3/4% and were issued at 98.825% of their face amount for an effective yield of 12%. The offering was made by means of a private offering memorandum to qualified institutional buyers and non-U.S. persons.
Proceeds from the offering will be used to repay part of CHC's currently outstanding bank credit facility and certain fees and expenses related to the financings incurred as part of CHC's acquisition of Helicopter Services Group ASA in 1999.
The Notes have not been registered under the United States Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state securities laws. The Notes may not be offered or sold in Canada except pursuant to transactions that are exempt from the prospectus requirements of applicable provincial securities laws.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the Notes referenced above in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
SOURCE: CHC Helicopter Corporation