Gulfmark Offshore has cancelled an offer to sell up to $300 million in senior notes after the offering failed to attract the minimum amount of tenders, derailing the struggling workboat owner's plans to restructure its debt.
The Houston-based company said late on Friday that the cash tender offer launched on 23 November 2016 for existing 6.375% notes due 2022 expired on 29 December and had been formally terminated.
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