debt
confidence high
sentiment negative
materiality 0.60
SEACOR Marine amends $130M credit facility; margin rises to 4.75% through Dec 2022
SEACOR Marine Holdings Inc.
- Margin increases from 3.75% to 4.75% per annum until Dec 31, 2022, then reverts to 3.75%.
- Cash & equivalents definition amended to include 35% of accounts receivable for Q2-Q4 2022.
- Interest coverage ratio covenant modified through Dec 31, 2022 to provide temporary relief.
- Parent guarantee and certain financial maintenance covenants amended; amendment fee paid.
- Amendment executed June 15, 2022 with DNB Bank and other lenders; effective same date.