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
|
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