Offshore Logistics, Inc. Amends Senior Note Consent Solicitation
11 Agosto 2005 - 10:23PM
Business Wire
Offshore Logistics, Inc. (NYSE: OLG) announced today that it has
amended the terms of its solicitation of consents from the holders
of its 6 1/8% Senior Notes due 2013 (the "Notes") to waivers under
and amendments to the indenture under which the Notes were issued.
After discussions with holders of a majority in principal amount of
the outstanding Notes, who have indicated that they intend to
deliver their consent, the Company has amended the terms of the
consent solicitation as follows: -- The Expiration Date (as defined
in the Consent Solicitation Statement dated July 26, 2005 (the
"Consent Solicitation Statement")) has been extended to 5:00 p.m.,
New York City time, on August 15, 2005. -- The consent fee payable
to holders of Notes as of 5:00 p.m., New York City time, on July
25, 2005 that have delivered (and not revoked) valid consents on or
prior to the Expiration Date has been increased to $6.25 per $1,000
principal amount of Notes. -- In the event that the Company does
not comply with the financial reporting covenants and related
compliance certificate and auditors' statement covenants on or
before November 15, 2005 and elects to pay on or before the third
business day following such date an additional fee to consenting
holders in an amount equal to $2.50 per $1,000 principal amount of
Notes in respect of which consents have been delivered (and not
revoked), the Company would have until December 15, 2005 to comply
with the financial reporting covenants and the compliance
certificate and auditors' statement covenants in the indenture. In
addition, if the Company does not comply with the financial
reporting covenants and related compliance certificate and
auditors' statement covenants on or before December 15, 2005 and
elects to pay on or before the third business day following such
date a further additional fee to consenting holders in an amount
equal to $2.50 per $1,000 principal amount of Notes in respect of
which consents have been delivered (and not revoked), the Company
would have until January 16, 2006 to comply with the financial
reporting covenants and the compliance certificate and auditors'
statement covenants in the indenture. In the event that the Company
does not comply with the financial reporting covenants and related
compliance certificate and auditors' statement covenants on or
before November 15, 2005 (or, at the election of Offshore Logistics
and upon the payment of an additional fee described above, until
December 15, 2005 or January 16, 2006, as applicable), the Trustee
or the holders of at least 25% in principal amount of the
outstanding Notes may declare all of the Notes due and payable
immediately. All other material terms of the consent solicitation
remain unchanged. The Company also announced that it intends to
seek a waiver of its revolving credit facility and a term loan
under which an affiliate of Offshore Logistics is borrower and
Offshore Logistics is a partial guarantor to provide Offshore
Logistics until November 15, 2005 (or, at the election of Offshore
Logistics and upon the payment of a fee, until December 15, 2005 or
January 16, 2006, as applicable) to comply with the covenants in
those instruments requiring the delivery of financial information.
As previously announced, until the Company complies with the
financial reporting covenants in the indenture, it intends to
publicly disclose selected financial information periodically. The
consent solicitation is conditioned upon the satisfaction of
certain conditions, including the consent of the holders of at
least a majority in principal amount of the outstanding Notes and
the execution of a supplemental indenture. A more comprehensive
description of the consent solicitation and its terms and
conditions can be found in the Consent Solicitation Statement, as
supplemented by the Supplement to Consent Solicitation Statement
dated August 9, 2005 and the Second Supplement to Consent
Solicitation Statement dated August 11, 2005. The Company has
retained Goldman, Sachs & Co. to serve as the Solicitation
Agent and Global Bondholder Services Corporation to serve as
Information Agent for the consent solicitation. Requests for
documents may be directed to Global Bondholder Services Corporation
by telephone at (866) 873-7700 (toll-free) or (212) 430-3774 or in
writing at 65 Broadway, Suite 704, New York, NY 10006, Attention:
Corporate Actions. Questions regarding the solicitation of consents
may be directed to Goldman, Sachs & Co., at (800) 828-3182
(toll free) or (212) 357-7867 (collect), Attention: Credit
Liability Management Group. This announcement is not an offer to
purchase or sell, a solicitation of an offer to purchase or sell or
a solicitation of consents with respect to any securities. The
Solicitation is being made solely pursuant to the Consent
Solicitation Statement, as supplemented by the Supplement to
Consent Solicitation Statement dated August 9, 2005 and the Second
Supplement to Consent Solicitation Statement dated August 11, 2005.
Offshore Logistics, Inc. is a major provider of helicopter
transportation services to the oil and gas industry worldwide.
Through its subsidiaries, affiliates and joint ventures, the
Company provides transportation services in most oil and gas
producing regions including the United States Gulf of Mexico and
Alaska, the North Sea, Africa, Mexico, South America, Australia,
Russia, Egypt and the Far East. The Company's Common Stock is
traded on the New York Stock Exchange under the symbol OLG.
Statements contained in this press release that state the Company's
or management's intentions, hopes, beliefs, expectations or
predictions of the future are forward-looking statements, including
its intention to publicly disclose selected financial information
periodically and seek a waiver of the revolving credit facility and
term loan and the intention of holders of more than a majority in
principal amount of the outstanding Notes to deliver their consent.
It is important to note that the Company's actual results could
differ materially from those projected in such forward-looking
statements. The public disclosure by Offshore Logistics of such
selected financial information will depend on a number of factors,
including the ongoing review by the Audit Committee of Offshore
Logistics of certain payments made by affiliated entities of
Offshore Logistics in a foreign country and operations in other
countries. Additional information concerning factors that could
cause actual results to differ materially from those in the
forward-looking statements is contained from time to time in the
Company's SEC filings, including but not limited to the Company's
report on Form 10-K for the year ended March 31, 2004 and the
Company's reports on Form 10-Q for the quarters ended June 30,
2004, September 30, 2004, and December 31, 2004. Offshore
Logistics, Inc. disclaims any intention or obligation to revise any
forward-looking statements, including financial estimates, whether
as a result of new information, future events, or otherwise.
Offshore Logistic (NYSE:OLG)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Offshore Logistic (NYSE:OLG)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024