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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of Earliest Event Reported): June 8, 1998
GulfMark Offshore, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
000-22853 76-0526032
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(Commission File Number) (I.R.S. Employer Identification No.)
5 Post Oak Park, Suite 1170, Houston, Texas 77027
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(Address of Principal Executive Offices) (Zip Code)
(713)963-9522
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
(Exhibit Index Located on Page 3)
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ITEM 5. OTHER EVENTS
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On June 8, 1998, GulfMark Offshore, Inc. (NASDAQ: GMRK) announced that it
has sold in a private offering pursuant to Rule 144A $130 million 8-3/4% Senior
Notes due 2008, priced to yield 8.8% to maturity. The net proceeds will be used
to repay in full all indebtedness of the Company outstanding under existing
credit facilities, and the balance of the net proceeds will be used for general
corporate purposes, including funding of a portion of the capital expenditures
associated with vessels currently under construction.
The Company has also entered into a $50 Million Multicurrency Revolving
Loan Agreement with Christiania Bank og Kreditkasse ASA and The Chase Manhattan
Bank, London Branch which, under certain conditions, may be increased to $75
million. This new five-year credit facility is in two tranches, both of which
will fully amortize over eight quarters commencing in the fourth year. This new
credit facility is fully available and will be used by the Company for general
corporate purposes. Additional information is included in the Company's press
release dated June 8, 1998, which is attached hereto as Exhibit 99.1
(b) Exhibits.
Exhibit No. Description
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99.1 Press Release dated June 8, 1998
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant had duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GulfMark Offshore, Inc.
Date: June 23, 1998 By: /s/ Frank R. Pierce
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Executive Vice President
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release dated June 8, 1998
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GulfMark Offshore, Inc.
5 Post Oak Park, Suite 1170
Houston, Texas 77027-3414
PRESS RELEASE
FOR IMMEDIATE RELEASE
GULFMARK OFFSHORE ANNOUNCES CLOSING OF SALE OF
$130 MILLION 8.75% SENIOR NOTES DUE 2008
AND
$50 MILLION MULTICURRENCY REVOLVING LOAN AGREEMENT
Houston, Texas, June 8, 1998 - GulfMark Offshore, Inc. (NASDAQ: GMRK)
announced today that it has sold in a private offering pursuant to Rule 144A
$130 million 8-3/4% Senior Notes due 2008, priced to yield 8.8% to maturity.
The net proceeds will be used to repay in full all indebtedness of the Company
outstanding under existing credit facilities, and the balance of the net
proceeds will be used for general corporate purposes, including funding of a
portion of the capital expenditures associated with vessels currently under
construction.
The Company has also entered into a $50 Million Multicurrency Revolving
Loan Agreement with Christiania Bank og Kreditkasse ASA and The Chase Manhattan
Bank, London Branch which, under certain conditions, may be increased to $75
million. This new five-year credit facility is in two tranches, both of which
will fully amortize over eight quarters commencing in the fourth year. This new
credit facility is fully available and will be used by the Company for general
corporate purposes.
GulfMark Offshore, Inc. provides marine transportation services to the
energy industry with a fleet of thirty-five (35) offshore support vessels
primarily in the North Sea, Southeast Asia and Brazil.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Senior Notes.
Contact: Frank R. Pierce, Executive Vice President
(713) 963-9522
