Nordea Bank amended an existing credit agreement with Helix Energy Solutions Group. The original agreement was dated as of Sept. 26, 2014 and the amendment extends the final maturity date of the term loan from April 30, 2020 to Jan. 31, 2021.
“The purpose of this extension is to align the maturity of the term loan with our expected cash flow generation in the second half of 2020,” Erik Staffeldt, executive vice president and CFO of Helix, said. “The short-term extension is consistent with our stated goals of reducing our debt and carefully managing our balance sheet and liquidity position. We thank our bank syndicate members for their support during this period of market volatility.”
Helix Energy Solutions Group, headquartered in Houston, 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.