CHC to complete partial redemption of Senior Subordinated Notes
ST. JOHN'S, NF, May 8 /CNW/ - CHC Helicopter Corporation ("CHC")
(TSE:FLY.A and FLY.B; NASDAQ:FLYA) announced today it has formally given
notice that it intends to redeem 35% of its 11.75% Senior Subordinated Notes.
The partial redemption is expected to be complete on May 28, 2002. The 35%
Partial Redemption is permitted under the Notes Indenture from proceeds of a
public equity offering. The total cost of the redemption, including premium,
is 111.75%, or 56.7 million Euros. CHC recently announced its completion of a
Treasury offering of 4,200,000 Class A Subordinate Voting Shares at a price of
$28.40 per voting share, and indicated it intended to use a portion of the
proceeds to repay debt.
CHC Helicopter Corporation through its subsidiaries and investments is a
leading provider of Helicopter transportation services to the oil and gas
industry, with a combined fleet of 318 light, medium and heavy aircraft
operating in 23 countries, and with approximately 2,300 employees worldwide. |
