Quarterly report pursuant to Section 13 or 15(d)

Long Term Debt

v3.19.1
Long Term Debt
3 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Long Term Debt

4.

LONG-TERM DEBT

The Company’s long-term debt obligations as March 31, 2019 and December 31, 2018 were as follows (in thousands):

 

 

March 31, 2019

 

 

December 31, 2018

 

SEACOR Marine Foreign Holdings Syndicated Credit Facility

 

$

123,500

 

 

$

126,750

 

Convertible Senior Notes

 

 

125,000

 

 

 

125,000

 

Falcon Global USA Term Loan Facility

 

 

109,099

 

 

 

109,099

 

Sea-Cat Crewzer III Term Loan Facility

 

 

25,366

 

 

 

25,989

 

Windcat Workboats Facilities

 

 

24,615

 

 

 

24,850

 

Falcon Global USA Revolver

 

 

15,000

 

 

 

15,000

 

SEACOR 88/888 Term Loan

 

 

11,000

 

 

 

11,000

 

BNDES Equipment Construction Finance Notes

 

 

4,795

 

 

 

5,284

 

 

 

$

438,375

 

 

$

442,972

 

Portion due within one year

 

 

(17,426

)

 

 

(16,812

)

Debt discount

 

 

(30,631

)

 

 

(32,005

)

Issue costs

 

 

(5,974

)

 

 

(6,301

)

 

 

$

384,344

 

 

$

387,854

 

As of March 31, 2019, the Company is in compliance with all debt covenants and lender requirements.

Letters of Credit. As of March 31, 2019, the Company had outstanding letters of credit of $4.8 million securing one long-term debt obligation, $0.3 million securing one lease obligation and $2.5 million for labor and performance guarantees.