Houston-based Bristow Group announced a private offering of $400m principal amount of senior secured notes due 2033.
The notes are expected to pay interest semi-annually and will be fully and unconditionally guaranteed, jointly and severally, on a senior secured basis.
They will be secured by first-priority liens, subject to limited exceptions, on collateral that will consist of certain helicopters and related assets including about 70 pledged aircraft.
The notes will be offered and sold to qualified institutional buyers. Bristow also delivered notice of full redemption of the 2028 6.875% notes.
“The satisfaction and discharge of the 2028 notes will only be made in accordance with the provisions of the 2028 notes indenture,”
the company
said
in the statement.
“As of September 30, 2025, approximately $397m aggregate principal amount of the 2028 notes remained outstanding. This press release does not constitute a notice of redemption with respect to the 2028 notes.”
Meanwhile, at Bristow’s third-quarter earnings call in November, Chris Bradshaw, the company’s president and CEO predicted the operator would achieve adjusted EBITDA growth of about 27% in mid-2026, year over year.
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