Barclays Arranges Up to $1.7B in Financing for McDermott

McDermott entered into an agreement with certain of its secured lenders to access to up to $1.7 billion of additional financing. Barclays is serving as lead arranger on the new financing.

Barclays, Credit Agricole Support McDermott CB&I Buy

McDermott International completed its merger with Chicago Bridge & Iron, creating a fully integrated provider of technology, engineering and construction solutions for the energy industry. Barclays and Credit Agricole agented a $4.65 billion credit agreement to support the transaction.

Crédit Agricole Agents $1.1B Facility for McDermott

McDermott International entered into a five-year credit agreement with $810 million of capacity for letters of credit and a $300 million revolving cash sublimit. Crédit Agricole served as administrative agent and collateral agent for the transaction.

Credit Agricole Agents MeDermott Credit Agreement Extension

McDermott International satisfied all conditions to the amendment to the company’s senior secured credit agreement with a lender group led by Credit Agricole as administrative agent.

Crédit Agricole Agents McDermott Facility Amendment

McDermott International amended its senior secured credit agreement to replace an existing minimum EBITDA requirement and remove or reduce certain reporting requirements to its lenders. Crédit Agricole agented the transaction.