HOUSTON – Bracewell LLP represented a leading international financial institution, as administrative agent and arranger, in the closing of a $250 million senior secured amended and restated credit facility to Helix Energy Solutions Group, Inc. (NYSE: HLX). The new facility, which contains different financial covenant compliance requirements depending on whether any loans are outstanding, consists of $150 million in revolving credit loans and a $100 million term loan, and replaces Helix’s previous $900 million credit agreement, extending the maturity date to 2020.
This facility was the first new credit facility for an offshore oilfield services company to close in 2017.
Bracewell lawyers involved in this transaction included:
Partners: Heather L. Brown, Michele J. Alexander and Timothy A. Wilkins
Counsel: J. Eric Holland
Associates: Anna K. Miller