Tidewater closes $650M note offering, $250M revolver, appoints new COO

TIDEWATER INC

Issued $650M of 9.125% senior unsecured notes due 2030; proceeds used to redeem 2026 and 2028 bonds and repay term loan.
Entered into $250M senior secured revolving credit facility, replacing the $25M existing facility; backed by vessel assets.
Appointed Piers Middleton as EVP and COO effective July 1, 2025; previously EVP and Chief Commercial Officer.
Redeemed all outstanding 8.50% senior secured bonds due 2026 and 10.375% senior unsecured bonds due 2028.

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