Tidewater has received a cash injection from refinancing its bonds and is set up to raise more funds down the line.
The Houston-based, New York-listed offshore vessel giant said in its third-quarter earnings release that it had swapped its senior secured notes due in August 2022 for $175m in senior secured notes due 2026.
Chief executive Quintin Kneen said the refinancing was an "important achievement" for the company, which has been dealing with the pandemic-fuelled oil demand slump.
