Trico Marine Files 10-Q For 4Q

Friday, May 16, 2003
Trico Marine Services, Inc. announced that it has filed its Form 10-Q for the quarter ended March 31, 2003 with the Securities and Exchange Commission in which it describes its 2003 liquidity enhancing plan to ensure adequate funding for its operations and capital needs.

As part of this plan, the Company also announced that its Norwegian operating subsidiary has executed a commitment letter with one of its existing lead lenders to enter into a new three year NOK 150 million (approximately US$21.9 million) term loan facility. Proceeds from the loan will be used to refinance an outstanding NOK 40 million (approximately $5.8 million) term loan due June 30, 2003 and repay amounts outstanding under the Company's NOK 760 million (approximately US$11 million) revolving credit facility and provide additional borrowing capacity.

Other key elements of this plan include: the sale of one of its largest AHTS North Sea class vessels or one or more other North Sea class vessels through a variety of transaction structures to raise capital and repay debt; obtaining a $4.5 million U.S. federal income tax refund; obtaining an equity partner and funding for its Brazilian AHTS newbuild project from the Brazilian development bank.

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Activists Planning Protest Against Shell's Arctic Business

U.S. environmental activists said they planned to protest on Tuesday against the launch of the second of two oil rigs central to Shell's plans to drill for oil in the Arctic.

Protests Shut Channel Tunnel Again

The Channel Tunnel closed again on Tuesday due to protesting MyFerryLink workers, its operator Eurotunnel and French traffic supervision body Bison Fute said. The

CMA CGM, Chinese Bank in Finance Deal

French container shipping group CMA CGM said on Tuesday it will sign a $1 billion financing agreement with the Export-Import Bank of China. Marseilles-based

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1702 sec (6 req/sec)