PHI to redeem remaining $10.51 million 7 1/8% senior notes due 2013

By Marisa Wong

Madison, Wis., Sept. 24 - PHI, Inc. said it will redeem all $10.51 million of its outstanding 7 1/8% senior notes due April 15, 2013 on Oct. 25.

The notes will be redeemed at 103.563 plus any accrued interest to, but excluding, the redemption date.

The notes called for redemption are outstanding from the company's cash tender offer launched on Sept. 9 and are set to expire on Oct. 6. As of Sept. 22, holders tendered about 94.75% of the $200 million of 7 1/8% notes.

The Bank of New York Mellon Trust Co., NA is the trustee.

Lafayette, La.-based PHI provides helicopter transportation and related services to the oil and gas industry and air medical industry.

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