Seacor sells interests in Mexican joint ventures

“This series of transactions will bolster the company’s liquidity and extend our debt maturities,” said Seacor Marine chief executive John Gellert. “These position Seacor Marine with a clear path to capture the full opportunity set presented by the upcycle in our industry. The sale of our unconsolidated joint ventures in Mexico is the capstone of our successful investment in MexMar and its related companies for the past two decades.”

Seacor worked with partners at CME to develop a leading Mexican offshore operator.

“The opportunity to unlock capital for the company and provide a constructive exit from unconsolidated joint ventures was compelling,” said Mr Gellert. “Going forward, we will retain a strategic link with CME and full access to the important Mexican market by chartering equipment to MexMar.”

DNB Bank and the Carlyle Group are a core group of bank lenders to Seacor and continue to support the vessel owner.

“The refinancing transactions we announced address our main 2023 maturities, demonstrate our ability to finance the company at reasonable terms and provide the company with the capital structure it needs to navigate an improving cycle for its business,” said Mr Gellert.

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