SEACOR Marine Holdings Inc., a leading provider of marine and support transportation services to offshore energy facilities worldwide, announced that it had entered into a new $28.0 million senior secured term loan facility with an affiliate of Hudson Structured Capital Management to refinance in full the shipyard financings maturing in 2023 and 2024 provided by COSCO Shipping Heavy Industry (Zhoushan) Co. in connection with the 2019 and 2020 delivery of three Rolls Royce UT771CDL designed platform supply vessels (“PSVs”) of 3,800 tons deadweight capacity with dynamic position class 2 and firefighting class 1 notations.
The facility provides for a new 5-year term loan that bears interest at a fixed rate of 10.25% and is secured by first priority mortgages on each of the three PSVs and guaranteed by SEACOR Marine. The PSVs are currently chartered in the Middle East and Angola.
John Gellert, Chief Executive Officer of SEACOR Marine, commented, “We are pleased to announce the refinancing of three of the youngest PSVs on the market with the support of Hudson Structured Capital Management. This refinancing illustrates the continuing improvement in the outlook of our business as we extend near-term maturities until 2028, which is after the maturity of our main senior secured credit facility and Carlyle notes.”
Today SEACOR Marine also presented at the 5th annual Crédit Agricole CIB shipping conference regarding “Energy Transition in the U.S.: Offshore Wind and Decommissioning.” A copy of the presentation is available on the Events and Presentations section of SEACOR Marine’s website at https://ir.seacormarine.com/events-and-presentations.
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Source: SEACOR Marine
