PR Newswire
NEW ORLEANS, April 5, 2017
NEW ORLEANS, April 5, 2017 /PRNewswire/ -- Tidewater Inc.
(NYSE: TDW) has been in restructuring discussions with its principal lenders and noteholders regarding the company's various debt
arrangements. Pending the resolution of those discussions, the company had previously received limited waivers from the necessary
lenders and noteholders which waived compliance with certain debt covenants until March 27, 2017,
at which time the company announced that the latest waiver extension had expired without a renewal being sought by the
company.
Tidewater's management is of the view that substantial progress has been made in the negotiations during the past week, and
after further discussion with its lenders and noteholders, all parties agreed to a further short-term covenant waiver while they
focus on bringing the negotiations to conclusion. The company has now received limited waivers of the covenant defaults
from its lenders and noteholders until April 7, 2017.
Tidewater is the leading provider of OSVs to the global energy industry.
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SOURCE Tidewater Inc.
