Helix Energy enters $80 million five-year asset-based revolver

By Wendy Van Sickle

Columbus, Ohio, Sept. 30 – Helix Energy Solutions Group, Inc. entered into a new syndicated $80 million asset-based revolving credit facility that replaces Helix's existing credit facility and term loan, according to a news release Thursday.

An accordion feature provides for up to $70 million of additional capacity.

The credit agreement has a five-year term or matures 91 days prior to the maturity of Helix’s 2026 convertible senior notes.

There are separate U.S. and U.K. tranches of $45 million and $35 million, respectively.

Pricing is initially Libor or Sonia plus 150 basis points to 200 bps, with an undrawn fee of 37.5 bps to 50 bps.

Helix is a Houston-based offshore energy company.

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