Bristow Group Inc. (VTOL) announced the pricing of an upsized private offering of $500 million aggregate principal amount of 6.75% senior secured notes due 2033. Closing of the offering is expected on January 26, 2026, subject to customary conditions.
The notes will mature on February 1, 2033 and will be issued at par. They will pay interest semi-annually and be fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Bristow's existing material, wholly owned domestic subsidiaries, certain foreign subsidiaries, and future subsidiaries.
The notes will be secured by first-priority liens, subject to limited exceptions, on collateral including certain helicopters and related assets, as well as substantially all other tangible and intangible property of the Company and its subsidiary guarantors. This collateral package will include approximately 119 pledged aircraft.
Bristow said it will irrevocably deposit a portion of the net proceeds with the trustee under the indenture governing its 6.875% Senior Secured Notes due 2028, in an amount sufficient to redeem those notes in full on March 1, 2026. The deposit will cover principal, premium, and interest payments up to the redemption date, along with all other sums payable under the indenture. Upon deposit, the 2028 Notes Indenture will be satisfied and discharged in accordance with its terms. Any remaining net proceeds from the new offering will be used for general corporate purposes.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.