The parent company of offshore transportation specialist CHC Helicopter, CHC Group, is planning a US stock market flotation, the proceeds from which are earmarked for "debt repayments and general corporate purposes". No timeline for the initial public offering has yet been revealed; nor have the price range or number of shares likely to be made available. However, the group's owner, US investment fund First Reserve, says following any sale it will "continue to own a majority of the voting power of ordinary shares". For the three months ended 31 July 2013, net debt rose to $1.55 billion from $1.32 billion for the same period a year earlier. Its debt to EBITDA ratio sits at 5.4:1, a slight improvement on the 5.6:1 recorded in the previous year.
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