McDermott International completes restructuring process.

International Resource News-July 2, 2020--McDermott International completes restructuring process

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International Resource News - 02 July 2020

United States-based McDermott International Ltd. has completed its restructuring process.

According to the company, the restructuring equitizes almost all of the company's USD4.6bn of funded debt, which results in the company emerging with USD2.4bn in letter of credit capacity and USD544m of funded debt. A joint partnership between Haldia Petrochemicals Ltd and Rhone Capital has also completed the acquisition of the company's Lummus Technology. The firm is to use the funds from the sale to repay debtor-in-possession financing in full and fund emergence costs and...

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