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    New credit facility for Helix Energy Solutions

    Company News // September 30, 2014

    Helix Energy Solutions has announced that its wholly owned subsidiary, Helix Q5000 Holdings SARL, has entered into a credit agreement with a syndicated bank lending group for a term loan in the amount up to US$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:

    • Debt nonrecourse to Helix
    • 5 year term
    • Pricing at Libor plus 250 basis points, with an undrawn fee of 87.5 basis points
    • 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 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,” said Anthony Tripodo, Executive Vice President and Chief Financial Officer.

    Nordea Bank Finland Plc acted as lead arranger and bookrunner of the new facility.


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