Trico Marine secures waiver of consolidated leverage ratio requirement

By Caroline Salls

Pittsburgh, March 31 - Trico Marine Services, Inc. has entered into a second waiver to its amended and restated credit agreement with lenders Unicredit Bank AG and Nordea Bank Norge ASA, Cayman Islands Branch and administrative agent Nordea Bank Finland plc, New York Branch, according to an 8-K filed with the Securities and Exchange Commission.

Specifically, the lenders and agent have agreed to waive a requirement in the credit agreement that Trico will not allow the consolidated leverage ratio to be greater than 11.00 to 1.00 as of March 31.

Trico Marine is a The Woodlands, Texas-based provider of subsea, trenching and marine support vessels and services.

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