Company: HLX
Filing Date: 2025-10-28
Form Type: S-3ASR
Source: 0001140361-25-039546
Chunk: 19

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-10-28
Form: S-3ASR
Chunk 19
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 otherwise in a prospectus supplement, we may not make any payment of principal, interest or any premium on the subordinated debt securities if:

| • | we fail to pay the principal, interest, premium or any other amounts on any Senior Debt when due; or |

| • | we default in performing any other covenant (a “covenant default”) in any Senior Debt that we have designated if the covenant default allows the holders of that Senior Debt to accelerate the maturity of the Senior Debt they hold. |

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TABLE OF CONTENTS

Unless we inform you otherwise in a prospectus supplement, a covenant default will prevent us from making payments on the subordinated debt securities only for up to 179 days after holders of the Senior Debt give the trustee for the subordinated debt securities notice of the covenant default. The subordination provisions will not affect our obligation, which will be absolute and unconditional, to pay, when due, principal of, premium, if any, and interest on the subordinated debt securities. In addition, the subordination provisions will not prevent the occurrence of any default under the subordinated indenture. Unless we inform you otherwise in a prospectus supplement, the subordinated indenture will not limit the amount of Senior Debt that we may incur. As a result of the subordination of the subordinated debt securities, if we become insolvent, holders of subordinated debt securities may receive less on a proportionate basis than our other creditors. Unless we inform you otherwise in a prospectus supplement, “Senior Debt” will mean all notes or other indebtedness, including guarantees, of Helix for money borrowed and similar obligations, unless the indebtedness states that it is not senior to the subordinated debt securities or our other junior debt. Consolidation, Merger and Sale of Assets The indentures generally will permit a consolidation, amalgamation or merger between us and another entity. They also will permit the sale by us of substantially all of our assets as an entirety. The indentures will provide, however, that we may consolidate or amalgamate with another entity to form a new entity or merge into any other entity or transfer or dispose of substantially all of our assets as an entirety to any other entity only if:

| • | the resulting or surviving entity assumes by supplemental indenture the due and punctual payments on the debt securities and the performance of our covenants and obligations under the applicable indenture and the debt securities; |

| • | immediately after giving effect to the transaction, no default or event of default would occur and be