SEACOR Holdings Announces Convertible Debt Issuance by a Subsidiary

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Go back to SEACOR Holdings Announces Convertible Debt Issuance by a Subsidiary

Seacor Holdings (CKH) Unit to Issues $175M of Conv. Notes

November 30, 2015 7:09 AM EST

Seacor Holdings (NYSE: CKH) announced that its offshore marine subsidiary, SEACOR Marine Holdings Inc. ("SMH"), entered into an agreement to issue $175 million in convertible notes to investment funds managed and controlled by The Carlyle Group ("Carlyle")(Nadaq: CG). It is expected that the notes will be issued on December 1, 2015. The notes have a seven-year duration, a coupon of 3.75% and will be convertible into shares of SMH common stock at an initial conversion rate of 23.26 shares per $1,000 principal amount of notes (approximately 18.7% of the current outstanding shares of SMH on a fully-diluted basis, equivalent to... More