Seacor Holdings has locked in a new credit facility.
The new five-year deal, with a syndicate of banks including trustee JP Morgan Chase, allows the shipowner to borrow up to $125m "from time to time" with the ability to bump that figure up to $200m in accordance with certain terms.
Per Securities and Exchange Commission filings, the loan comes with flexible interest rates of either a base rate plus margin between 0.75% to 2% based on net funded debt ratio or at a period of one, two, three or six months based on LIBOR plus a margin from 1.75% to 3%.
