Bristow Looks to Raise $230M

Bristow Group Inc. on Friday announced the filing of a Form S-1 Registration Statement for a proposed offering of $230 million of mandatory convertible preferred stock, including $30 million subject to the underwriters' over-allotment option. Bristow Group intends to use the net proceeds to fund the purchase of additional helicopters, including the exercise of options to acquire five large aircraft.

Credit Suisse Securities (USA) LLC is acting as book runner and representative of the underwriters for the proposed offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

When available, a copy of the prospectus relating to this offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010 (Toll Free: 800-221-1037 or 212-538-5441 or by faxing requests to 212-325-8057).

Bristow Group Inc. is the leading provider of helicopter transportation services to the worldwide offshore energy industry based on number of aircraft operated. Through its subsidiaries, affiliates and joint ventures, the Company has major operations in the U.S. Gulf of Mexico and the North Sea, and operations in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Brazil, China, Mexico, Nigeria, Russia and Trinidad. Additionally, the Company is a leading provider of production management services for oil and gas production facilities in the U.S. Gulf of Mexico. The Company's Common Stock trades on the New York Stock Exchange under the symbol BRS.

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