Tidewater to sell $250 million five-year notes backing platform supply vessel acquisitions

By Paul A. Harris

Portland, Ore., June 20 – Tidewater Inc. announced a $250 million Rule 144A and Regulation S offering of senior notes on Tuesday, according to market sources.

The notes come with two years of call protection.

DNB, Clarkson and Fearnley are the leads.

Proceeds will be used to help finance the acquisition of 37 platform supply vessels from Solstad Offshore ASA and for corporate purposes.

The prospective issuer is a Houston-based owner and operator of offshore support vessels for energy exploration, production, generation and offshore wind activities.

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