HOUSTON, Sept. 11, 2023 (GLOBE NEWSWIRE) -- SEACOR Marine Holdings Inc. (NYSE:SMHI) (the "Company" or "SEACOR Marine"), a leading provider of marine and support transportation services to offshore energy facilities worldwide, today announced that it has entered into a new $122.0 million senior secured term loan with certain affiliates of EnTrust Global (the "SMFH Credit Facility") providing the Company with a more efficient and consolidated capital structure.
The proceeds from the SMFH Credit Facility will be used, among other things, to refinance $104.6 million of principal indebtedness under five separate debt facilities with different lenders thereby extending their maturity dates from 2023-2026 to 2028. Borrowings under the SMFH Credit Facility will bear interest at a rate of 11.75% per annum and principal will be repaid in quarterly installments of 2.5% of the initial principal amount of the loan. Additional information about the terms of the SMFH Credit Facility can be found in our Current Report on Form 8-K filed today with the U.S. Securities and Exchange Commission.
John Gellert, SEACOR Marine's Chief Executive Officer, commented: "I am pleased to announce this refinancing and welcome EnTrust Global as our main secured debt lender. Not only does the transaction extend all of our secured debt maturities to 2028 or later but it also provides us with the financial flexibility to take advantage of ...