Hornbeck Offshore Services increased total revolving commitments to $125 million from $75 million and added $175 million of uncommitted incremental Facility capacity. For investors, the amendment permits the Merger and expands the financing available under the first Lien revolving Credit facility, subject to customary conditions.

Key Highlights

  • The First Incremental Facility Amendment was dated August 28, 2026 and became effective September 1, 2026.
  • The amendment permits the merger after Helix shareholders approved it at a special meeting held August 31, 2026.
  • Total revolving commitments increased to $125 million from $75 million, while uncommitted incremental facility capacity increased to $175 million.

Hornbeck Offshore Services increased total revolving commitments under its First Lien Revolving Credit Facility to $125 million from $75 million. The amendment also provides $175 million of uncommitted incremental facility capacity once customary conditions are satisfied. Effective September 1, 2026, the changes permit the merger and expand the facility’s capacity.

Revolving Facility Expanded

The First Incremental Facility Amendment changes the First Lien Credit Agreement covering Hornbeck Offshore Services and certain subsidiaries. That capacity remains subject to satisfaction of customary conditions.

Merger Permission Added

The credit agreement amendment permits the merger. The transaction followed an agreement dated April 22, 2026, involving Helix Energy Solutions Group, Inc. Hornbeck Offshore Services, Inc. Odyssey Sub, Inc. and Hercules Sub LLC. The liens and guarantees securing that facility were released.

Capital Structure Changes

At the effective time, each outstanding share of Helix common stock converted into one share of Helix Delaware common stock. Consenting stockholders of Legacy Hornbeck were issued an aggregate of 37,818,435 shares of common stock.