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Tidewater Raise Funds on Senior Note Placement

Offshore Service Vessel owner Tidewater Inc. with a group of institutional investors have executed a $500-million senior unsecured note purchase agreement. Proceeds from the issuance of the notes will be used to (i) refinance borrowings under the company’s existing $600 million revolving credit facility, which remains available until June 2018, (ii) fund capital expenditures related to the company’s on-going fleet enhancement program and (iii) for general corporate purposes.