SEACOR Marine sells Mexico JV interests for $66M, refinances $125M notes and $54.9M credit facility to 2026

SEACOR Marine Holdings Inc.

Sold 49% stakes in MexMar and OVH to CME affiliates for $66M cash; received full ownership of SEACOR Marlin LLC via vessel swap.
Acquired MexMar's $28.8M secured loan, then MexMar paid down $8.8M; remaining $20M due in quarterly payments by Sep 2023; Company is now sole lender.
Credit facility amended: $5.3M prepayment reduces total to $74.7M; $54.9M tranche extended to Mar 2026 at 4.75%+SOFR; $19.8M tranche matures Sep 2023.
Exchanged $125M 4.25% convertible notes due 2023 for $90M new 8.0%/9.5% PIK toggle notes due 2026 and $35M new 4.25% convertible notes due 2026.
Carlyle investors get board nomination rights; CEO states transactions extend $175M+ near-term maturities to 2026, strengthening liquidity.

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