Financing ·
Tidewater amends BNDES loans to assume guarantees from sellers after Brazil acquisition
TDWTidewater Inc
Tidewater amended its BNDES Construction Loans effective October 1, 2026, replacing the original guarantors (Wilson Sons and Remolcadores) with Tidewater itself. The amendments raised interest rates to between 3.21% and 3.77%, increased collateral coverage ratios to 130%, and updated acceleration provisions. Concurrently, $170.5 million in bank guarantees provided by DNB Bank ASA were cancelled. This follows the August 31 acquisition of Tidewater Offshore do Brasil S.A. and Atlantic Offshore Services S.A. The company operates in the offshore marine support industry.