PHI Inc., Lafayette, La., (Nasdaq: PHII) has commenced a cash offer for its outstanding US$200 million aggregate principal amount of 9.375% senior notes due 2009. For each US$1,000 principal amount of notes tendered, PHI will pay US$1,048.88, plus accrued and unpaid interest. A US$2 bonus will be paid per US$1,000 principal amount of notes for tendering prior to the deadline. UBS Investment Bank is dealer manager, and D.F. King & Co. Inc. is the information agent.
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