CHC Helicopter lines up $375 million five-year revolving facility

By Susanna Moon

Chicago, Sept. 19 - CHC Group Ltd. said CHC Helicopter SA expects to obtain a $375 million five-year senior secured revolving credit facility.

Interest on the loans will be Libor plus 275 basis points to 450 bps, according to a S-1 filing with the Securities and Exchange Commission.

Proceeds will be used for general corporate purposes, including the refinancing of debt.

Beginning in March 2014, the spread on Libor loans may be reduced to 375 bps from 450 bps if CHC Helicopter's consolidated total leverage ratio at the end of the most recent fiscal quarter is less than 3.5 times.

The company is a Richmond, B.C.-based commercial operator of helicopters.

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