News Releases

Baker Botts Represents Helix Energy Solutions Group, Inc. in $125 Million Offering of Convertible Senior Notes

Deal Description: On March 20, 2018, Helix Energy Solutions Group, Inc. (NYSE: HLX) closed its previously announced offering of $125 million aggregate principal amount of 4.125% convertible senior notes due 2023. The 2023 notes were issued via an underwritten public offering, resulting in net proceeds of approximately $121.2 million, after deducting underwriting fees and estimated offering expenses. The 2023 notes will bear interest at a rate of 4.125% per annum, payable semi-annually on March 15 and September 15 of each year, beginning September 15, 2018.

Helix used the net proceeds from the 2023 notes offering to repurchase approximately $59.3 million principal amount of its 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. Helix may use a portion of the net proceeds from the 2023 notes offering to repurchase or redeem the aggregate principal amount of 2032 notes that were not purchased in its repurchase offer. The offer to repurchase the 2032 notes settled concurrently with closing of the 2023 notes offering.

Baker Botts L.L.P., together with Helix’s in-house legal staff, represented Helix in the public offering of the 2023 notes and in the offer to repurchase the 2032 notes.

Baker Botts Lawyers/Offices Involved:

For more information, please see Helix’s news release regarding the pricing of the public offering of 2023 notes by clicking here.

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