Tidewater launches $650M senior notes offering to refinance existing debt and term loan

TIDEWATER INC

Offers $650M of unsecured senior notes due 2030 in private placement to qualified institutional buyers.
Proceeds will repay existing senior secured term loan in full and redeem 8.50% 2026 and 10.375% 2028 bonds.
Company also received commitment letters for a new $250M senior secured revolving credit facility.
New credit facility will be entered into on closing of the offering, with borrowing subject to customary conditions.

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