Marine Link
Monday, September 26, 2016

Trico Receives MarAd Commitment

July 29, 1999

Trico Marine Services received a commitment from the U.S. Maritime Administration (MarAd) to provide a Title XI financing relating to the construction of two 230-ft. deepwater supply vessels. The first vessel, Spirit River, was delivered in December 1998 and began a long-term charter contract, while the second vessel, Hondo River, is expected to be delivered in the second quarter of 1999. The MarAd guarantee is for an aggregate of approximately $18.8 million. The debt obligations are to be amortized over a period of 15 years, beginning six months from the date of closing. Proceeds will be used to prepay amounts outstanding under the company's revolving credit facility. Bank One Capital Markets, Inc. has committed to purchase the debt obligations.


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News