Helix Energy Solutions Group, Inc. Announces Redemption of Its 3.25% Convertible Senior Notes Due 2032
April 03 2018 - 5:00PM
Business Wire
Helix Energy Solutions Group, Inc. (NYSE:HLX) announced today
that it has delivered a notice to the trustee for its 3.25%
Convertible Senior Notes due 2032 (the “Notes”) under which it has
called all of the outstanding Notes for redemption on May 4, 2018
(the “Redemption Date”). The redemption price for the Notes is
equal to 100% of the principal amount thereof plus accrued and
unpaid interest (including contingent interest, if any) up to, but
not including, the Redemption Date. The aggregate principal amount
of the Notes outstanding is $809,000.
The Notes became convertible upon Helix’s call for their
redemption and may be converted at any time before the close of
business on May 3, 2018, the business day immediately preceding the
Redemption Date. The Notes are convertible into shares of Helix’s
common stock at a rate of 39.9752 shares
per $1,000 principal amount of the Notes, equivalent to a
conversion price per share of approximately $25.0155. However,
Helix has elected to deliver cash to satisfy its entire conversion
obligation upon any conversion of the Notes. Holders who wish to
convert their Notes must comply with the requirements set forth in
the Notes and related indenture.
The address of The Bank of New York Mellon Trust Company, N.A.,
which is acting as the paying agent and the conversion agent, is as
follows:
By First Class / Registered /
Certified Mail
By Express / Overnight Delivery
By Hand or In Person
The Bank of New York Mellon Trust Company,
N.A.
Global Corporate Trust
111 Sanders Creek Parkway
East Syracuse, New York 13057
The Bank of New York Mellon Trust Company,
N.A.
Global Corporate Trust
111 Sanders Creek Parkway
East Syracuse, New York 13057
The Bank of New York Mellon Trust Company,
N.A.
Global Corporate Trust
111 Sanders Creek Parkway
East Syracuse, New York 13057
This press release shall not constitute a notice of redemption
with respect to or an offer to purchase or sell (or the
solicitation of an offer to purchase or sell) any securities, nor
shall there be any sale of any securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Helix
Helix Energy Solutions Group, Inc., headquartered in Houston,
Texas, is an international offshore energy services company that
provides specialty services to the offshore energy industry, with a
focus on well intervention and robotics operations.
Forward-Looking Statements
This press release contains forward-looking statements that
involve risks, uncertainties and assumptions that could cause our
results to differ materially from those expressed or implied by
such forward-looking statements. All statements, other than
statements of historical fact, are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995, including, without limitation, any statements regarding
our strategy; any statements regarding visibility and future
utilization; any projections of financial items; any statements
regarding future operations expenditures; any statements regarding
the plans, strategies and objectives of management for future
operations; any statements regarding our ability to enter into
and/or perform commercial contracts; any statements concerning
developments; any statements regarding future economic conditions
or performance; any statements regarding the proposed redemption;
any statements of expectation or belief; and any statements of
assumptions underlying any of the foregoing. The forward-looking
statements are subject to a number of known and unknown risks,
uncertainties and other factors that could cause results to differ
materially from those in the forward-looking statements, including
but not limited to the terms of the redemption; the performance of
contracts by suppliers, customers and partners; actions by
governmental and regulatory authorities; operating hazards and
delays, which includes delays in delivery, chartering or customer
acceptance of assets or terms of their acceptance; our ultimate
ability to realize current backlog; employee management issues;
complexities of global political and economic developments;
geologic risks; volatility of oil and gas prices and other risks
described from time to time in our reports filed with the
Securities and Exchange Commission (“SEC”), including Helix’s most
recently filed Annual Report on Form 10-K and in Helix’s other
filings with the SEC, which are available free of charge on the
SEC’s website at www.sec.gov. We assume no obligation and do not
intend to update these forward-looking statements except as
required by the securities laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180403006543/en/
Helix Energy Solutions Group, Inc.Erik Staffeldt,
281-618-0400Senior Vice President & CFO
Helix Energy Solutions (NYSE:HLX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Helix Energy Solutions (NYSE:HLX)
Historical Stock Chart
From Sep 2023 to Sep 2024