Helix Energy calls last $809,000 3.25% convertibles for redemption

By Wendy Van Sickle

Columbus, Ohio, April 3 – Helix Energy Solutions Group, Inc. called its remaining $809,000 principal amount of 3.25% convertible senior notes due 2032 for redemption on May 4, according to a press release.

The notes will be redeemed at par plus accrued interest to but excluding the redemption date.

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 into shares of Helix’s common stock at a rate of 39.9752 shares per $1,000 principal amount, equivalent to a conversion price per share of about $25.0155.

However, Helix said it has elected to deliver cash to satisfy its entire conversion obligation upon any conversion of the notes.

The shares closed at $5.59 on Tuesday.

Helix is a Houston-based offshore energy company.

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