Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that its
wholly owned subsidiary, Helix Q5000 Holdings S.A.R.L., has entered into
a credit agreement with a syndicated bank lending group for a term loan
in the amount up to $250 million. The term loan will be funded at or
near the time of delivery of the Q5000 vessel, which is currently
estimated in early 2015.
The key features of the new secured credit facility include:
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Debt nonrecourse to Helix
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5 year term
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Pricing at Libor plus 250 basis points, with an undrawn fee of 87.5
basis points
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Quarterly amortization payments on the term loan based on a seven year
straight line repayment profile with a balloon payment at maturity
“This new credit facility provides attractive financing not only for the Q5000,
but also allows Helix to maintain the capital resources to execute our
capital spending plans for new well intervention vessels, both in
progress as well as potential future vessels,” commented Anthony
Tripodo, Executive Vice President and Chief Financial Officer.
Nordea Bank Finland Plc acted as Lead Arranger and Bookrunner of the new
facility. Nordea Bank Finland Plc will serve as Administrative Agent.
About Helix
Helix Energy Solutions Group, headquartered in Houston, Texas, is an
international offshore energy company that provides specialty services
to the offshore energy industry, with a focus on well intervention and
robotics operations. For more information about Helix, please visit our
website at www.HelixESG.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve
risks, uncertainties and assumptions that could cause our results to
differ materially from those expressed or implied by such
forward-looking statements. All statements, other than statements of
historical fact, are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, including, without
limitation, any statements regarding our strategy; any statements
regarding future utilization; any projections of financial items; future
operations expenditures; any statements regarding the plans, strategies
and objectives of management for future operations; any statement
concerning developments; any statements regarding future economic
conditions or performance; any statements of expectation or belief; and
any statements of assumptions underlying any of the foregoing. The
forward-looking statements are subject to a number of known and unknown
risks, uncertainties and other factors including but not limited to the
performance of contracts by suppliers, customers and partners; actions
by governmental and regulatory authorities; operating hazards and
delays; our ultimate ability to realize current backlog; employee
management issues; complexities of global political and economic
developments; geologic risks; volatility of oil and gas prices and other
risks described from time to time in our reports filed with the
Securities and Exchange Commission ("SEC"), including the Company's most
recently filed Annual Report on Form 10-K and in the Company’s other
filings with the SEC, which are available free of charge on the SEC’s
website at www.sec.gov.
We assume no obligation and do not intend to update these
forward-looking statements except as required by the securities laws.
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Copyright Business Wire 2014