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.