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Tidewater Closes $650 Million Notes Offering

BY MT Newswires | CORPORATE | 07/07/25 05:10 PM EDT

05:10 PM EDT, 07/07/2025 (MT Newswires) -- Tidewater (TDW) said Monday it completed its previously announced private offering of $650 million in 9.125% senior unsecured notes due 2030.

The company used the proceeds, along with cash on hand, to fully repay its existing senior secured term loan.

Tidewater also redeemed all of its 8.50% senior secured bonds due 2026 and 10.375% senior unsecured bonds due 2028.

In addition, the company entered into a new five-year senior secured credit agreement that includes a $250 million revolving credit facility.

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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