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Helix Energy Solutions Group, Inc. Message Board

  • peristentone peristentone Oct 17, 2012 8:55 PM Flag

    Buy Back Convertible Bond in December?

    Has Helix stated its intentions relative to the convertible bond CUSIP 127914AB5 that matures 2025? They have a continuous call option at $100 starting 12/20/2012, and the bond trades like they are going to exercise that option.

    The money here isn't very expensive. Why would they close the position?

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    • the put feature is at the option of the holder not the company.Thus they have to be ready for the redemption regardless. I suspect they will get a few takers if not all...158mm takers to be exact

      • 1 Reply to bas32060
      • I was not talking about the put feature. Clearly if they trade below par someone will exercise the put feature, which is why they won't trade below par.

        I am interested in the perpetual call feature, because that might make this a dead-money investment. The company could simply call it out at any time when it trades to a price where convertibility gives the holder a profit.

        I'm looking at the other convertible at this point and I'm passing on the CUSIP 127914AB5.

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