Cal Dive to draw on revolver for stock repurchase

By Sara Rosenberg

New York, Jan. 26 - Cal Dive International Inc. plans to use borrowings under its $300 million revolving credit facility to repurchase stock from Helix Energy Solutions Group Inc., according to a news release.

Helix, the company's majority stockholder, is selling the roughly 13.6 million shares of stock for $86 million or $6.34 per share.

Cal Dive is a Houston-based marine contractor.

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