First Reserve-backed CHC Group launches IPO

CHC Group Ltd has debuted its initial public offering (IPO) of 31 million shares at a price of US$10 per share. The stock began trading Friday on the New York Stock Exchange under the ticker symbol “HELI.” JP Morgan, Barclays and UBS are the lead underwriters. Headquartered in Vancouver, Canada, CHC operates heavy and medium helicopters that are used to transport crew to offshore drilling rigs and provide emergency medical services. It has been backed by U.S. private equity firm First Reserve Corp since 2008. Update: CHC expects to use the net proceeds of the IPO to repay debt and for general corporate purposes.


Jan. 16, 2014 – New York – CHC Group Ltd., the parent company of CHC Helicopter S.A., today announced the pricing of its initial public offering of 31,000,000 of its ordinary shares, at a price to the public of $10 per share. The securities are scheduled to begin trading tomorrow (Friday) on the New York Stock Exchange under the symbol “HELI.” CHC expects to use the net proceeds to repay certain CHC Helicopter debt and for general corporate purposes.

The offering is expected to close on or about Jan. 23, subject to customary closing conditions. To the extent that the underwriters sell more than the allotted ordinary shares, the underwriters will have the option to purchase up to an additional 4,650,000 ordinary shares from the company at the IPO price, less underwriting discounts. J.P. Morgan, Barclays and UBS Investment Bank are serving as the joint book-running managers for the offering. The co-managers are HSBC; RBC Capital Markets; Wells Fargo Securities; BNP Paribas; Standard Bank; Cormark Securities (USA) Limited; Cowen and Company; Raymond James; Simmons & Company International; and Tudor, Pickering, Holt & Co.

A registration statement relating to these securities was filed and declared effective today (Thursday) by the U.S. Securities and Exchange Commission. The registration statement on Form S-1 may be accessed through the SEC’s website at The offering is being made only by means of a prospectus. A final prospectus for the offering may be obtained, when available, from: J.P. Morgan c/o Broadridge Financial Solutions 1155 Long Island Ave. Edgewood, NY 11717 1 866-803-9204 Barclays c/o Broadridge Financial Solutions 1155 Long Island Ave. Edgewood, NY 11717 1 888-603-5847 UBS Investment Bank Attn: Prospectus Dept. 299 Park Ave. New York, NY 10171 1 888-827-7275

This news release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About CHC Group Ltd.

CHC Group Ltd. is a commercial operator of helicopters focused on enabling customers to go further, do more and come home safely. CHC provides helicopter flight services to oil and gas companies and government search-and-rescue agencies, and helicopter maintenance, repair and overhaul services to organizations through the Heli-One segment. The company operates 238 aircraft in about 30 countries around the world.

Photo courtesy of CHC Group Ltd.