The award-winning company operates a diverse fleet of tug boats specifically designed for multi-disciplinary work including ship-assist, ship escort, towing, offshore support, subsea and rig moves. as legal counsel.Ībout Signet Maritime Corporation:Since 1976, Signet Maritime has been an industry leader delivering quality marine transportation and logistics services to customers worldwide. White & Case LLP represented Riverstone Credit Partners, L.P. Jones Walker LLP represented Signet as legal counsel in the negotiation and execution of the Term Loan.
“By completing this transaction, we have fully satisfied our near-term maturities while adding additional liquidity to the balance sheet.” Loughren, Chief Financial Officer of Signet. "We are very pleased to partner with Riverstone in this new credit facility," said Jerome P. Signet’s best-in-class fleet and embedded market position enables them to effectively service their increasing customer base and strong backlog of activity.”
“We are pleased to partner with Signet and support their growth going forward. “Our capital commitment to Signet reflects the confidence we have in the Company’s future and their operational excellence,” said Co-Head of Riverstone Credit, Jamie Brodsky. We look forward to continuing to provide reliable and safe service to our existing and new customers and the local communities in which we operate.” “This recapitalization, along with Signet’s advantageous positioning within our ports of operation, allows us to support the growing exports of crude oil and natural gas from the U.S. “Signet’s exceptional maritime expertise combined with our financial flexibility will allow Signet to execute on numerous expansion initiatives over the next 18 months,” said J. Signet retains 100% stock ownership by its President, CEO, and Founder, J. This financing transaction was solely led and arranged by Riverstone. Proceeds from the Term Loan are to repay and retire the Company’s existing first lien credit facility, to fund development capital expenditures and to pay related transaction fees and expenses. Houston, Texas, AugSignet Maritime Corporation (“Signet” or the "Company") today announced that it closed a $140 million Senior Secured Term Loan Facility (the “Term Loan”) with Riverstone Credit Partners, L.P., a dedicated energy and power credit fund managed by Riverstone Holdings LLC (“Riverstone”). Signet Maritime Corporation Announces Recapitalization with Riverstone Credit Partners, L.P.
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