Tidewater Inc. entered into a guarantee agreement with Brazil's national development bank on September 21, 2026. The agreement obligates the Houston-based company to ensure the full and timely payment of specific construction loans held by its Brazilian subsidiary.
The borrower under these facilities is Tidewater do Brasil S.A., formerly known as Wilson Sons Offshore S.A. The loans, collectively referred to as the BNDES Construction Loans, were originally established between 2007 and 2012. They consist of five distinct credit facility agreements, identified by reference numbers 07.2.0417.1, 07.2.0418.1, 10.2.1621.1, 12.2.0433.1, and 12.2.0434.1. Banco Nacional de Desenvolvimento Econômico e Social, or BNDES, serves as the lender for these facilities.
Under the terms of the new guarantee, Tidewater's obligation is unsecured and ranks equally with all other unsecured and unsubordinated obligations of the company. This means the bank holds the same priority for repayment as other creditors with similar claims against Tidewater.
The guarantee replaces previous arrangements where Wilson Sons S.A. and Remolcadores Ultratug Limitada acted as guarantors for the same loans. Tidewater stated that it is currently working with BNDES to finalize the documentation required to release these two entities from their guarantor roles.
Tidewater disclosed this development in a Current Report on Form 8-K filed with the Securities and Exchange Commission. The report, dated September 25, 2026, was signed by Daniel A. Hudson, who serves as the company's Executive Vice President, Chief Legal Officer and Corporate Secretary.
The filing notes that the summary provided in the report is subject to the full text of the Guarantee Agreement, which was filed as Exhibit 10.1. Investors are directed to a previous Form 8-K filed on August 31, 2026, for additional background information regarding the BNDES Construction Loans.
Tidewater is incorporated in Delaware and trades on the New York Stock Exchange under the symbol TDW. Its principal executive offices are located at 842 West Sam Houston Parkway North in Houston, Texas.