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MDR - McDermott International Secures An Expensive Lifeline
McDermott International Inc.
Note:
I have covered McDermott International (MDR) previously, so investors should view this as an update tomy earlier article on the company.
On Monday, ailing oil-and-gas engineering and construction company McDermott International secured an up to $1.7 billion bridge loan facility from a consortium of existing lenders led by Barclays and Crédit Agricole.
After trading up by more than 30% in pre-market, the shares reversed course quickly after the start of the regular session, ending the day down almost 15%.
Photo: Cameron LNG Facility Construction Site at Hackberry, Louisiana - Source: Mitsui