By Andrea Heisinger
Omaha, Dec. 18 - Helix Energy Solutions Group Inc. priced an upsized $550 million in eight-year senior notes at par to yield 9½%, an informed source said.
The notes priced at the wide end of price talk, which was 9¼% to 9½%. The issue was originally planned as a $500 million offering.
The notes (B3/B+) priced at 553 basis points more than Treasuries.
The issue is non-callable for four years.
Bookrunner for the Rule 144A issue was Banc of America Securities LLC.
The operator of offshore oil and natural gas facilities is based in Houston.
Issuer: | Helix Energy Solutions Group Inc.
|
Issue: | Senior notes
|
Amount: | $550 million, upsized from $500 million
|
Maturity: | Jan. 15, 2016
|
Bookrunner: | Banc of America Securities LLC
|
Coupon: | 9½%
|
Price: | Par
|
Yield: | 9½%
|
Spread: | Treasuries plus 553 bps
|
Call: | Non-callable for four years
|
Trade date: | Dec. 18
|
Settlement date: | Dec. 20
|
Price talk: | 9¼% to 9½%
|
Ratings: | Moody's: B3
|
| Standard & Poor's: B+
|
Distribution: | Rule 144A
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.