MDR - McDermott - Unsecured Lenders Are Pressing For Debt Restructuring Agreement
Note:
I have covered McDermott International (MDR) previously, so investors should view this as an update to my earlier articles on the company.
Shares of ailing oil-and-gas engineering and construction company McDermott International rallied on Monday after lenders agreed to amend the terms of the recent superpriority senior secured credit facility and provide an additional $350 million in much-needed funds:
McDermott International announced today that it has been granted access to the second tranche ("Tranche B") of the $1.7 billion superpriority senior secured credit facility (the "Agreement") announced on October 21, 2019. Tranche