Press Releases
The key features of the new secured credit facility include:
- Initial pricing at Libor plus 275 basis points, with an undrawn fee of 50 basis points
- Annual amortization payments on the term loan of 5% in years 1 and 2, and 10% per annum in years 3 through 5 with a balloon payment at maturity
-
$200 million accordion feature - 5 year term
In conjunction with the new credit agreement, Helix notified the Trustee
of its 9.5% Senior Unsecured Notes of the Company’s intent to redeem all
of the outstanding notes. On
“The new credit facility along with the early redemption of our Senior
Unsecured Notes provides Helix with a lower cost of capital along with
the financial support to execute our strategy of growing our well
intervention and robotics businesses,” commented
About Helix
Forward-Looking Statements
Statements included in this news release regarding the Company’s
strategy and other statements that are not historical facts are
forward-looking statements. These statements involve risks and
uncertainties including, but not limited to the performance of contracts
by suppliers, customers and partners; actions by governmental and
regulatory authorities; operating hazards and delays; employee
management issues; local, national and worldwide economic conditions;
complexities of global political and economic developments; geologic
risks; volatility of oil and gas prices; market conditions; and other
risks described from time to time in our reports filed with the
Source:
Helix Energy Solutions Group, Inc.
Terrence Jamerson, 281-618-0400
Director,
Finance & Investor Relations