The Company’s long-term debt obligations as of March 31, 2023 and December 31, 2022 were as follows (in thousands):


	March 31, 2023			December 31, 2022
Recourse long-term debt(1):
Guaranteed Notes	$	90,000		$	90,000
New Convertible Notes		35,000			35,000
SEACOR Marine Foreign Holdings Credit Facility		64,507			67,910
Sea-Cat Crewzer III Term Loan Facility		15,465			16,703
SEACOR Offshore Delta (f/k/a SEACOSCO) Acquisition Debt		16,205			16,205
SEACOR Delta (f/k/a SEACOSCO) Shipyard Financing		75,314			77,537
SEACOR Alpine Shipyard Financing		27,087			27,790
SEACOR 88/888 Term Loan		5,500			5,500
Tarahumara Shipyard Financing		5,056			5,597
SEACOR Offshore OSV		15,552			16,052
Total recourse long-term debt		349,686			358,294
Non-recourse long-term debt(2):
SEACOR 88/888 Term Loan		5,500			5,500
Total non-recourse long-term debt		5,500			5,500
Total principal due for long-term debt		355,186			363,794
Current portion due within one year		(60,523	)		(61,512	)
Unamortized debt discount		(35,950	)		(37,511	)
Deferred financing costs		(4,263	)		(4,652	)
Long-term debt, less current portion	$	254,450		$	260,119

(1)

Recourse debt represents debt issued by SEACOR Marine and/or its subsidiaries and guaranteed by SEACOR Marine or one of its operating subsidiaries as provided in the relevant debt agreements.

(2)

Non-recourse debt represents debt issued by one of the Company’s consolidated subsidiaries with no recourse to SEACOR Marine or its other non-debtor operating subsidiaries with respect to the applicable instrument, other than certain limited support obligations as provided in the respective debt agreements, which in aggregate are not considered to be material to the Company’s business and financial condition.

As of March 31, 2023, the Company was in compliance with all debt covenants and lender requirements.

SEACOR Marine Foreign Holdings Credit Facility. On March 2, 2023, the Company and SEACOR Marine Foreign Holdings Inc., a wholly-owned subsidiary of SEACOR Marine (“SMFH”) entered into Amendment No. 7 (“SMFH Amendment No. 7”) to that certain Second Amended and Restated Guaranty, dated as of September 29, 2022, issued by the Company in favor of DNB Bank ASA, New York Branch, as security trustee (the “Second A&R SMFH Credit Facility Guaranty”) in connection with that certain senior secured loan facility with a syndicate of lenders administered by DNB Bank ASA, New York Branch, dated as of September 26, 2018 and as amended from time to time (the “SMFH Credit Facility”). SMFH Amendment No. 7 extends the date through which the Company is required to maintain an interest coverage ratio of 1.50:1.00 (as calculated in accordance with the Second A&R SMFH Credit Facility Guaranty) from December 31, 2022 to June 30, 2023. As of the last day of each fiscal quarter thereafter, the interest coverage ratio is required to be at least 2.00:1.00.

Letters of Credit. As of March 31, 2023, the Company had outstanding letters of credit of $1.1 million securing lease obligations, labor and performance guaranties.