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.