Company: TDDWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-034124
Chunk: 30

Company: TIDEWATER INC
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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.50% Senior Secured Notes due November 2026 (D)   —   175,000 
  $671,897  $647,887 
 Debt discount and issuance costs   (16,255)  (10,791)
 Less: Current portion of long-term debt   (5,840)  (65,386)
 Total long-term debt  $649,802  $571,710 

    (A)As of  September 30, 2025, the fair value (Level 1) of the 9.125% Senior Notes due  July 2030 was $697.1 million. The fair value is obtained from public transaction activity.
    (B)  As of  December 31, 2024, the fair value (Level 3) of the Senior Secured Term Loan was $218.2 million. The Level 3 fair value is derived from discounted present value calculations. 
    (C)  As of  December 31, 2024, the fair value (Level 1) of the 10.375% Senior Unsecured Notes due  July 2028 was $266.1 million. The fair value is obtained from public transaction activity on the Nordic ABM exchange (XOAM).  
 (D)As of  December 31, 2024, the fair value (Level 1) of the 8.50% Senior Secured Notes due  November 2026 was $180.8 million. The fair value is obtained from public transaction activity on the XOAM.

   On  July 7, 2025, all amounts outstanding, including accrued interest, under the Senior Secured Term Loan, the 10.375% Senior Unsecured Notes due  July 2028 and the 8.50% Senior Secured Notes due  November 2026 (Extinguished Debt) were redeemed and paid in full in conjunction with the issuance of the 2030 Notes described below. All collateral, security and guarantees related to the Extinguished Debt were released in conjunction with the repayment. In addition, the holders of the Senior Unsecured Notes and the 2026 Notes received redemption premiums totaling $15.0 million and $4.5 million, respectively. We also wrote off approximately $7.5 million in discount and debt issue costs related to the Extinguished Debt