Tidewater Inc. has announced a private offering of $650 million in aggregate principal amount of unsecured senior notes due 2030. The company plans to use the net proceeds from this offering, along with cash on hand, to repay its existing senior secured term loan, redeem its outstanding 8.50% Senior Secured Bonds due 2026 and 10.375% Senior Unsecured Bonds due 2028, and cover related premiums, accrued interest, fees, and expenses. The 2030 Notes will be senior unsecured obligations of Tidewater and will be guaranteed on a senior unsecured basis by certain U.S. subsidiaries. These notes are being offered in the United States to qualified institutional buyers and outside the United States in compliance with Regulation S under the Securities Act.
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