Helix Energy extends maturity date of term loan credit agreement

By Wendy Van Sickle

Columbus, Ohio, March 11 – Helix Energy Solutions Group, Inc. amended its credit agreement dated Sept. 26, 2014 related to its Q5000 vessel, according to a news release.

The amendment extends the final maturity date for the term loan under the credit agreement to Jan. 31, 2021 from April 30.

Norday Bank is the administrative agent.

“The purpose of this extension is to align the maturity of the term loan with our expected cash flow generation in the second half of 2020,” Erik Staffeldt, executive vice president and chief financial officer of Helix, said in the release.

“The short-term extension is consistent with our stated goals of reducing our debt and carefully managing our balance sheet and liquidity position. We thank our bank syndicate members for their support during this period of market volatility.”

Helix is a Houston-based offshore energy company.

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