MDR - The 'One McDermott Way' Might Still End In Bankruptcy Court

Note:

I have covered McDermott International (MDR) previously, so investors should view this as an update to my earlier articles on the company.

On Tuesday, I provided my assessment of McDermott's new, up to $1.7 billion bridge loan facility from a consortium of existing lenders led by Barclays and Crédit Agricole, currently scheduled to mature on October 21, 2021.

Upon closing, McDermott was provided immediate access to $650 million of capital (comprised of $550 million under a new term facility and $100 million under a new letters of credit facility).

Photo: Cameron LNG