Contact Information: Contact: Molly Hottinger (954) 627-5278 www.seacorholdings.com
SEACOR Holdings Prices Offering of $250 Million Senior Notes
| Source: SEACOR Holdings Inc.
FORT LAUDERDALE, FLORIDA--(Marketwire - September 21, 2009) - SEACOR Holdings Inc. (NYSE : CKH )
announced today that it has priced a registered offering of $250 million
aggregate principal amount of 7 3/8% Senior Notes due 2019. The issue price
is 99.329% of the principal amount of the notes. SEACOR will receive net
proceeds of approximately $246 million from the offering after deducting
underwriting discounts and estimated offering expenses. The net proceeds
from the sale of the notes will be used for general corporate purposes,
which may include funding for working capital, capital expenditures,
repurchases of SEACOR's outstanding debt securities and capital stock and
acquisitions. The offering is expected to close on September 24, 2009,
subject to customary closing conditions.
The joint book-running managers for the offering are J.P. Morgan Securities
Inc. and Deutsche Bank Securities Inc., and HSBC Securities (USA) Inc. is
acting a co-manager for the offering. You may obtain a final prospectus
supplement, when available, and accompanying prospectus by contacting J.P.
Morgan Securities Inc., 270 Park Avenue, 8th Fl, New York, NY 10017, Attn:
Syndicate Desk, 1-212-834-4533 or Deutsche Bank Securities Inc., Attention:
Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311,
1-800-503-4611.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the notes, nor shall there be any sale of
the notes in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws
of any such state. This offering is being made under a shelf registration
statement filed with the Securities and Exchange Commission that became
effective on September 21, 2009.
SEACOR Holdings is a global provider of equipment and services primarily
supporting the offshore oil and gas and marine transportation industries.
SEACOR offers customers a diversified suite of services including offshore
marine, marine transportation, inland river, aviation, environmental,
commodity trading and offshore and harbor towing. SEACOR is focused on
providing highly responsive local service combined with the highest safety
standards, innovative technology, modern, efficient equipment and
dedicated, professional employees.
This release includes "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements concerning management's expectations, strategic objectives,
business prospects, anticipated economic performance and financial
condition and other similar matters involve known and unknown risks,
uncertainties and other important factors that could cause the actual
results, performance or achievements of results to differ materially from
any future results, performance or achievements discussed or implied by
such forward-looking statements.
Such risks, uncertainties and other important factors include, among
others: the unprecedented decline in valuations in the global financial
markets and illiquidity in the credit sectors, including, interest rate
fluctuations, availability of credit, inflation rates, change in laws,
trade barriers, commodity prices and currency exchange fluctuations, the
cyclical nature of the oil and gas industry, loss of U.S. coastwise
endorsement for the Seabulk Trader and Seabulk Challenge, retrofitted
double-hull tankers, if the Company is unsuccessful in litigation
instructing the U.S. Coast Guard to revoke their coastwise charters,
activity in foreign countries and changes in foreign political, military
and economic conditions, changes in foreign and domestic oil and gas
exploration and production activity, safety record requirements related to
Offshore Marine Services, Marine Transportation Services and Aviation
Services, decreased demand for Marine Transportation Services and Harbor
and Offshore Towing Services due to construction of additional refined
petroleum product, natural gas or crude oil pipelines or due to decreased
demand for refined petroleum products, crude oil or chemical products or a
change in existing methods of delivery, compliance with U.S. and foreign
government laws and regulations, including environmental laws and
regulations, the dependence of Offshore Marine Services, Marine
Transportation Services and Aviation Services on several customers,
consolidation of the Company's customer base, the ongoing need to replace
aging vessels and aircraft, industry fleet capacity, restrictions imposed
by the Shipping Acts and Aviation Acts on the amount of foreign ownership
of the Company's Common Stock, increased competition if the Jones Act is
repealed, operational risks of Offshore Marine Services, Marine
Transportation Services, Harbor and Offshore Towing Services and Aviation
Services, effects of adverse weather conditions and seasonality, future
phase-out of Marine Transportation Services' double-bottom tanker,
dependence of spill response revenue on the number and size of spills and
upon continuing government regulation in this area and Environmental
Services' ability to comply with such regulation and other governmental
regulation, changes in National Response Corporations' Oil Spill Removal
Organization classification, liability in connection with providing spill
response services, the level of grain export volume, the effect of fuel
prices on barge towing costs, variability in freight rates for inland river
barges, the effect of international economic and political factors in
Inland River Services' operations, adequacy of insurance coverage, the
attraction and retention of qualified personnel by the Company and various
other matters and factors, many of which are beyond the Company's control.
In addition, these statements constitute the Company's cautionary
statements under the Private Securities Litigation Reform Act of 1995. It
is not possible to predict or identify all such factors. Consequently, the
following should not be considered a complete discussion of all potential
risks or uncertainties. The words "estimate," "project," "intend,"
"believe," "plan" and similar expressions are intended to identify
forward-looking statements. Forward-looking statements speak only as of the
date of the document in which they are made. The Company disclaims any
obligation or undertaking to provide any updates or revisions to any
forward-looking statement to reflect any change in the Company's
expectations or any change in events, conditions or circumstances on which
the forward-looking statement is based. The forward-looking statements in
this release should be evaluated together with the many uncertainties that
affect the Company's businesses, particularly those mentioned under
"Forward-Looking Statements" in Item 7 on the Company's Form 10-K and
SEACOR's periodic reporting on Form 10-Q and Form 8-K (if any), which are
incorporated by reference.
For additional information, contact Molly Hottinger at (954) 627-5278 or
visit SEACOR's website at www.seacorholdings.com.