PHI intends to use substantially all of the net proceeds of the offering toward the expansion of its aircraft fleet. In addition, PHI will use a portion of the net proceeds to repay the indebtedness outstanding under its revolving credit facility, a significant portion of which was incurred to purchase new aircraft.
UBS Investment Bank was the sole book-running manager and a joint lead manager with Lehman Brothers Inc. for the offering. Howard Weil Incorporated and Simmons and Company International acted as co-managers for the offering.
A copy of the prospectus supplement and related base prospectus relating to this offering may be obtained from UBS Investment Bank, Attn: Prospectus Department, 25th Floor, 299 Park Avenue, New York, New York, 10019, Phone: (212) 821-3884, or from any of the other underwriters.
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