Houston-based offshore services and robotics specialist Helix Energy Solutions has amended its existing credit agreement with Nordea Bank ABP and the lender parties related to its Q5000 vessel.
The credit agreement from September 2014, has been adapted to extend the final maturity date of the term loan from April 30, 2020 to January 31, 2021.
Erik Staffeldt, executive vice president and CFO of Helix, said: “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.
“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.”