Company: TDDWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-034124
Chunk: 31

Company: TIDEWATER INC
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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, resulting in a $27.1 million loss on early extinguishment of debt which is recorded in our Condensed Consolidated Statement of Operations for the three and nine months ended  September 30, 2025.
    
   9.125% Senior Notes due  July 2030
    
   On  July 7, 2025, we, certain of our subsidiaries (Guarantors), and Wilmington Trust, National Association, as trustee (Trustee), entered into an indenture (Indenture), pursuant to which we issued $650.0 million in aggregate principal amount of 9.125% Senior Notes due 2030 (2030 Notes). The 2030 Notes are unconditionally guaranteed on a senior unsecured basis by the Guarantors.
    
   The 2030 Notes mature on  July 15, 2030. Interest on the 2030 Notes is payable semi-annually in arrears on each  January 15 and  July 15, commencing  January 15, 2026, to holders of record on the  January 1 and  July 1 immediately preceding the related interest payment date, at a rate of 9.125% per annum.
    
   At any time prior to  July 15, 2027, we  may redeem the 2030 Notes, at a redemption price equal to 100% of the principal amount of the 2030 Notes redeemed, plus an applicable make-whole premium and accrued and unpaid interest, if any. At any time on or after  July 15, 2027, we  may redeem the 2030 Notes, at the redemption price of 104.563%, which declines to 100% on or after  July 15, 2029, plus accrued and unpaid interest.
    
   The Indenture contains covenants that, among other things and subject to certain exceptions, limit our ability, and the ability of our restricted subsidiaries to: (i) incur, assume or guarantee additional indebtedness or issue certain preferred stock; (ii) create liens to secure indebtedness; (iii) pay distributions on equity interests, repurchase equity securities, make investments or redeem subordinated indebtedness; (iv) restrict distributions, loans or other asset transfers; (v) consolidate with or merge with or into, or sell substantially all of our assets to, another person; (vi) sell or otherwise dispose of assets