Bristow Group to redeem convertible senior notes

Bristow Group Inc. (NYSE: BRS) has called its 3.00% convertible senior notes due 2038 for redemption on Aug. 14.

The redemption price is equal to 100% of the principal amount thereof plus any accrued and unpaid interest up to, but excluding, the redemption date. The notes may be converted at any time before the close of business on Aug. 13, the business day immediately preceding the redemption date. 

The notes are convertible into shares of common stock of the company at a rate of 13.8373 shares per $1,000 principal amount of notes. Bristow Group will satisfy its conversion obligation by delivering cash up to the principal amount of the notes surrendered for conversion and shares for the remainder of its conversion obligation, if any. 

Bristow Group provides helicopter services to the worldwide offshore energy industry, and has transportation operations in the North Sea, Nigeria, and the US 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, Russia, and Trinidad.

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