The New York-quoted tug, tanker and offshore owner says it plans to raise up to $250m through the sale of convertible senior notes due 2027 in a private offering aimed at institutional buyers.
Seacor intends to splash $125m on the repayment of a revolving credit facility and expects the remainder to be set aside for general corporate purposes, which may include the buying back of common stock and the payment of dividends to shareholders, according to a securities filing.
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