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Tidewater Launches $650 Million Senior Notes Offering

BY MT Newswires | CORPORATE | 06/23/25 08:04 AM EDT

08:04 AM EDT, 06/23/2025 (MT Newswires) -- Tidewater (TDW) said Monday it has launched a private offering of $650 million of unsecured senior notes due 2030.

The company said it plans to use the net proceeds, along with cash on hand, to pay back a term loan and redeem its outstanding 8.50% senior secured bonds due 2026 and 10.375% senior unsecured bonds due 2028 as well as cover any extra costs, like interest and fees.

Shares of Tidewater were up about 4% in recent premarket activity Monday.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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