Tidewater Announces Pricing of USD $175M Senior Secured Bond Issue

Source: www.gulfoilandgas.com 10/15/2021, Location: North America

Tidewater Inc. has finalized the terms of the Company’s offering of USD $175 million in senior secured bonds in the Nordic bond market. The bonds will mature in November 2026 and bear interest at 8.5% per annum. The Company anticipates that consummation of the offering will occur on November 16, 2021, subject to customary closing conditions. The Company intends to use the net proceeds from the bond issue towards the refinancing of the Company’s outstanding debt and for general corporate purposes. An application will be made for the bonds to be listed on the Nordic ABM.

The bonds were privately placed in the United States in accordance with U.S. securities laws and sold outside the United States pursuant to Regulation S under the Securities Act of 1933.

The bonds have not been registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state laws.


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