Tiny Helicon Group seeks to expand, not leave. (Helicon Group L.P.)

Multichannel News | November 1, 1993| | Copyright

MSO Helicon Group L.P. is restructuring its debt to escape tight restrictions on investment and expansion imposed by its bank.

This week, Helicon is expected to close on the sale of $115 million worth of junk bonds, largely to replace bank debt. The deal is significant because it shows that even small operators can tap the public markets for cash.

Helicon is replacing 6 percent bank debt with bonds starting at 9.4 percent before stepping up to 11.6 percent in 1996.

Some financial gymnastics will blunt the effects, but the restructuring will nevertheless ...

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