Oceaneering amends credit agreement to extend maturity to 2027

By Marisa Wong

Los Angeles, Sept. 20 – Oceaneering International, Inc. entered into an agreement on Wednesday to amend its credit agreement dated April 8, 2022 with some of Oceaneering’s subsidiaries as guarantors and Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment will extend the scheduled maturity date of the commitments to April 8, 2027 for all lenders.

The amendment will become effective upon the satisfaction of certain conditions, including the issuance of new 6% senior notes due 2028 and the commencement of a tender offer for the company’s outstanding 4.65% senior notes due 2024.

Oceaneering is a Houston-based technology company for the offshore energy, defense, aerospace, manufacturing and entertainment industries.

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