Exhibit 99.1
BRISTOW GROUP INC. ANNOUNCES EXPIRATION AND FINAL RESULTS OF CASH TENDER OFFER FOR ITS 8.75% SENIOR SECURED NOTES DUE 2023
HOUSTON, September 10, 2019 – Bristow Group Inc. (OTC: BRSWQ) (“Bristow” or the “Company”) announced today the expiration and final results of its previously announced cash tender offer (the “Tender Offer”) to purchase the notes identified in the table below (the “Notes”) up to an aggregate principal amount of the Notes that, together with accrued and unpaid interest to, but not including, the settlement date equals $75,000,000 (the “Aggregate Maximum Tender Amount”).
The following table sets forth the approximate aggregate principal amount of the Notes that were tendered and not withdrawn at or prior to midnight, New York City time, at the end of the day on September 9, 2019 (the “Expiration Date”) and the principal amount accepted for purchase.
| | | | | | | | |
Title of Notes | | CUSIP/ISIN Numbers(1) | | Aggregate Principal Amount
Outstanding | | Tendered Notes | | Aggregate Principal
Amount Accepted
for Purchase |
| 8.75% Senior Secured Notes due 2023 | | 144A: 110394 AG8 / US110394AG86 | | $350,000,000 | | $349,685,000 | | $74,818,000 |
| | Reg S: U1104M AB7 / USU1104MAB73 | | | | | | |
| (1) | No representation is made as to the correctness or accuracy of the CUSIP/ISIN numbers listed in the table above or printed on the Notes. They are provided solely for the convenience of holders of the Notes. |
As previously announced, the Company will only accept for purchase the Notes tendered in the Tender Offer subject to the Aggregate Maximum Tender Amount and proration. As the Tender Offer is oversubscribed, the Company has accepted for purchase tendered Notes on a prorated basis in the manner described in the Offer to Purchase. Notes tendered and not accepted for purchase will be promptly returned or credited to the applicable holders’ account.
All conditions of the Tender Offer have either been satisfied or waived, and the settlement date with respect to the Tender Offer is expected to occur on September 11, 2019.
D.F. King & Co., Inc. acted as the tender agent and information agent for the Tender Offer.
This announcement does not constitute an offer to purchase Notes or a solicitation of an offer to sell Notes and shall not be deemed to be an offer to purchase or a solicitation of an offer to sell with respect to any securities of the Company or its subsidiaries.
About the Company
Bristow Group Inc. is the world’s leading industrial aviation service provider offering helicopter transportation, search and rescue (SAR) and aircraft support services to government and civil organizations worldwide. Bristow’s strategically located global fleet supports operations in the North Sea, Nigeria and the U.S. Gulf of Mexico; as well as in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Guyana and Trinidad. Bristow provides SAR services to the private sector worldwide and to the public sector for all of the U.K. on behalf of the Maritime and Coastguard Agency.
