---
title: "Hornbeck Offshore Boosts Revolver to $125 Million, Terminates Helix $120 Million ABL Amid Merger"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/297698486.md"
description: "Hornbeck Offshore Services executed financing actions tied to its merger closing. The company increased its first-lien revolving credit facility to $125 million and amended credit agreements to permit the merger. It also adopted updated Jones Act warrant frameworks with anti-dilution protections. Concurrently, Hornbeck terminated the legacy Helix $120 million ABL facility with no outstanding amounts to simplify the post-merger capital structure."
datetime: "2026-09-01T20:53:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/297698486.md)
  - [en](https://longbridge.com/en/news/297698486.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/297698486.md)
generator: "portal-rs"
---

# Hornbeck Offshore Boosts Revolver to $125 Million, Terminates Helix $120 Million ABL Amid Merger

Hornbeck Offshore Services executed a series of financing and capital-structure actions tied to the closing of its mergers. The company increased its first-lien revolving credit facility to $125 million and lifted uncommitted incremental capacity to $175 million, enhancing liquidity. It also amended its first- and second-lien facilities to permit the merger and adopted updated Jones Act warrant frameworks, including anti-dilution protections tied to dividends. Concurrently, Hornbeck terminated the legacy Helix $120 million ABL facility with no amounts outstanding, simplifying the post-merger capital structure.

**Agreement 1: Hornbeck Offshore Increases Revolver to $125 Million; Upsizes Incremental Capacity to $175 Million**

-   **Agreement type**: First Incremental Facility Amendment to first-lien revolving credit facility
-   **Counterparty**: DNB Bank, as administrative agent, and lenders
-   **Signed / Effective**: Aug 28 2026 / Sep 01 2026
-   **Duration / Termination**: Through existing facility term
-   **Reason**: Enhance liquidity post-merger

**Agreement 2: Hornbeck Offshore Amends First-Lien Credit Agreement to Permit Merger**

-   **Agreement type**: Second Amendment to first-lien revolving credit agreement
-   **Counterparty**: DNB Bank, as administrative agent, Wilmington Trust, as collateral agent, and lenders
-   **Signed / Effective**: Aug 28 2026 / Aug 28 2026
-   **Duration / Termination**: Through existing facility term
-   **Reason**: Allow consummation of the merger

**Agreement 3: Hornbeck Offshore Amends Second-Lien Term Loan to Permit Merger**

-   **Agreement type**: First Amendment to second-lien term loan credit agreement
-   **Counterparty**: Stonebriar Commercial Finance and lenders
-   **Signed / Effective**: Aug 28 2026 / Aug 28 2026
-   **Duration / Termination**: Through existing facility term
-   **Reason**: Align facility terms with merger

**Agreement 4: Hornbeck Offshore Adopts Amended Jones Act Warrant Agreement; Warrants Now 10.27167 Shares Each**

-   **Agreement type**: Amended and Restated Jones Act Warrant Agreement
-   **Counterparty**: Equiniti Trust Company
-   **Signed / Effective**: Sep 01 2026 / Sep 01 2026
-   **Duration / Termination**: At will
-   **Reason**: Ensure Jones Act compliance and unify warrant terms

**Agreement 5: Hornbeck Offshore Establishes Amended Jones Act Anti-Dilution Warrant Framework**

-   **Agreement type**: Amended and Restated Jones Act Anti-Dilution Warrant Agreement
-   **Counterparty**: Equiniti Trust Company
-   **Signed / Effective**: Sep 01 2026 / Sep 01 2026
-   **Duration / Termination**: At will
-   **Reason**: Protect warrant value upon dividends

**Agreement 6: Hornbeck Offshore Terminates Helix $120 Million ABL Facility With Bank of America at Closing**

-   **Agreement terminated**: Asset-based credit agreement (ABL facility)
-   **Counterparty**: Bank of America
-   **Original agreement date**: Sep 30 2021
-   **Termination date**: Sep 01 2026
-   **Termination type**: Early
-   **Exit fees / payments**: None
-   **Reason**: Streamline capital structure post-merger

Original SEC Filing: HORNBECK OFFSHORE SERVICES, INC. \[ HLX \] - 8-K - Sep. 01, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**