Helix Energy announces offering of $125M of convertible senior notes
Helix Energy Solutions Group announced its intention to offer, subject to market and other conditions, $125M principal amount of convertible senior notes due 2023. Helix intends to use the net proceeds from the offering to repurchase all of its currently outstanding $60.115M principal amount of 3.25% convertible senior notes due 2032 in its previously announced offer to repurchase the 2032 notes and to repay borrowings under its outstanding term loan. To the extent that any of the 2032 notes are not purchased in its repurchase offer, Helix may use a portion of the net proceeds from the offering to repurchase or redeem the remaining 2032 Notes. Wells Fargo Securities and Merrill Lynch, Pierce, Fenner & Smith are acting as joint book-running managers for the offering.