Ad Hoc Committee of GulfMark Noteholders Rejects GulfMark’s Proposed Tender Offer

NEW YORK--(BUSINESS WIRE)-- An ad hoc committee of noteholders of GulfMark Offshore’s 6.375% senior notes due 2022 (“Noteholder Committee”) has organized and retained Milbank, Tweed, Hadley and McCloy and Houlihan Lokey. The Noteholder Committee is made up of sophisticated financial institutions and hedge funds and holds approximately 50% of all outstanding notes, which is the majority of the notes when excluding notes held by insiders. The Noteholder Committee, therefore holds a blocking position with respect to the proposed tender offer launched by GulfMark on November 23, 2016 (the “Proposed Tender Offer”).

The members of the Noteholder Committee will not be tendering into the Proposed Tender Offer and strongly encourages other holders not to tender as well. The Noteholder Committee is currently considering an alternative transaction that will maximize value for all GulfMark’s creditors and stakeholders. The Noteholder Committee also invites other senior noteholders to reach out to Gavin Kagan at Houlihan Lokey (212-530-5567) to discuss the issue or if interested in joining the Noteholder Committee.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161206006055/en/

Houlihan Lokey
Gavin Kagan, 212-530-5567

Source: Milbank

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