W&T Offshore, Inc. Announces Closing of Major Debt Refinancing
W&T Offshore, Inc. (WTI)
Last w&t offshore, inc. earnings: 3/4 04:45 pm
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Source: PR Newswire
HOUSTON, Oct. 18, 2018 /PRNewswire/ -- W&T Offshore, Inc. (NYSE: WTI) ("W&T Offshore" or the "Company") announced today that it has closed transactions to effect a refinancing of substantially all of its outstanding indebtedness. The Company today closed its previously announced private offering of $625.0 million in aggregate principal amount of 9.75% Senior Second Lien Notes due 2023 (the "New Notes") which priced at par. The Company also entered into a Sixth Amended and Restated Credit Agreement which provides for a revolving credit and letter of credit facility with an initial borrowing base of $250.0 million.The Company used net proceeds from the offering of New Notes, borrowings under its new amended and restated revolving credit facility and cash on hand to (i) repay and retire its outstanding $75.0 million 11.00% 1.5 Lien Term Loan and $300.0 million 9.00% Second Lien Term Loan and (ii) redeem or repurchase in full all of its outstanding 8.500% Senior Notes due 2019, 9.00%/10.7
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News
- W&T Offshore, Inc. (NYSE: WTI) had its price target raised by analysts at Stifel Nicolaus from $7.50 to $7.80. They now have a "buy" rating on the stock.MarketBeat
- An Intrinsic Calculation For W&T Offshore, Inc. (NYSE:WTI) Suggests It's 36% Undervalued [Yahoo! Finance]Yahoo! Finance
- W&T Announces Addition to its Board of DirectorsGlobeNewswire
- W&T (WTI) Up 5.7% Since Last Earnings Report: Can It Continue? [Yahoo! Finance]Yahoo! Finance
- Can W&T Offshore, Inc. (NYSE:WTI) Maintain Its Strong Returns? [Yahoo! Finance]Yahoo! Finance
WTI
Earnings
- 3/5/24 - Miss
WTI
Analyst Actions
- 4/23/24 - Stifel
WTI
Sec Filings
- 4/16/24 - Form 3
- 4/11/24 - Form 8-K
- 3/28/24 - Form 8-K
- WTI's page on the SEC website