Vancouver-based Tidewater Holdings, Inc., said Tuesday that it has reached an agreement on a $115 million refinance package with Northwest Farm Credit Services.
The financing plan is one of a series of recent changes at the company, which operates tugs and barges on the Columbia and Snake river systems, as well as terminal services. Earlier this year, New York-based investment firm Stonepeak Infrastructure Partners replaced Portland-based Endeavour Capital as the company’s major equity investor. Tidewater appointed Bob Curcio this month as the company’s new president and CEO.
“The completion of this refinance package provides the financial resources and flexibility necessary to execute our strategic plan for Tidewater’s business growth and expansion,” said Trent Vichie of Stonepeak Infrastructure Partners, in a news release.
Northwest Farm Credit Services was the lead arranger on the refinance package, and Barclays acted as sole placement agent, Tidewater said.