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    GulfMark Offshore prices private placement

    Company News // March 6, 2012

    GulfMark Offshore has announced the pricing of its private placement of US$300 million in aggregate principal amount of 6.375% senior unsecured notes due 2022 to eligible purchasers.

    The notes mature on March 15, 2022, and will be issued at par. The offering is expected to close on March 12, 2012, subject to customary closing conditions.

    GulfMark intends to use the net proceeds from the notes offering, together with cash on hand, to fund its pending tender offer and consent solicitation for its existing 7.75% senior notes due 2014, to redeem any of the 2014 Notes not purchased in the tender offer, and to repay in full existing borrowings under its US$200 million facility agreement.

     

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