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Tidewater, Arch Chemicals, Canada's Keyera Facilities announce private placements of notes
By Lisa Kerner
Charlotte, N.C., Sept. 9 - Tidewater Inc. entered into a note purchase agreement to sell a total of $425 million of senior unsecured notes to a group of institutional investors.
The company expects to issue a multiple series of notes totaling $310 million and $115 million, with closing expected on Oct. 15 and Dec. 30, respectively.
The notes will have a weighted average maturity of approximately nine years and a weighted average coupon of 4.25%.
Tidewater, based in New Orleans, owns a fleet of 397 vessels serving the offshore energy industry.
Arch Chemicals, Inc. will sell $250 million total principal amount of 4% senior unsecured notes due Dec. 31, 2017 to institutional investors in a private placement.
The Norwalk, Conn., biocides company issued $125 million principal amount of the notes at closing and will issue the remaining $125 million of notes on or before Dec. 31.
Keyera Facilities Income Fund completed its private placement of C$155 million of long-term senior unsecured notes to a group of institutional investors in Canada and the United States.
Keyera, a Calgary, Alta.-based publicly traded income fund, first announced the private placement in June. It was completed in fourth tranches.
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