secwatch.observer — SEC 8-K summary
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Issuer:     TIDEWATER INC (TDW)
CIK:        0000098222
Form:       8-K
Filed at:   2026-10-05T11:00:36+00:00
Accession:  0001104659-26-113492
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4.1-flash:cloud@v2

Tidewater replaces Wilson Sons guarantees on BNDES loans; rates rise to 3.21%-3.77%, collateral ratio 130%
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- Effective Oct 1, 2026, BNDES Construction Loans amended: Wilson Sons and Remolcadores parent guarantees terminated and Tidewater Inc. substituted as guarantor.
- Interest rates raised to 3.21% for Credit Facility Agreements Nos. 07.2.0417.1, 07.2.0418.1, 12.2.0433.1, 12.2.0434.1 and 3.77% for No. 10.2.1621.1.
- Collateral coverage ratio increased to 130% for all BNDES Construction Loans; acceleration provisions updated, including change of control without lender consent.
- Replacement LCs from DNB Bank ASA up to USD $170,458,000 cancelled effective October 2, 2026, following replacement of guarantees.
- Amendments tied to Tidewater's Aug 31, 2026 acquisition of Wilson Sons Ultratug Participações S.A. (now Tidewater Offshore do Brasil S.A.) and Atlantic Offshore Services S.A.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/98222/000110465926113492/0001104659-26-113492-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/98222/000110465926113492/tm2626952d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-113492

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