NEW YORK – McDermott International’s restructuring case – in which Bracewell LLP represented Crédit Agricole Corporate and Investment Bank on the successful refinancing of approximately $2.6 billion of letter of credit and term loan facilities – won Restructuring Deal of the Year at the IFLR Europe Awards 2025, which were presented at the Royal Lancaster London Hotel on April 3.
Led by New York partner Jeris Diana Brunette, the Crédit Agricole CIB refinancing was implemented through a cross-border restructuring process, pursuant to a transaction support agreement among a steering committee of letter of credit issuers and lenders, and an ad hoc group of cross-over lenders, participants and shareholders agreed in September 2023. The refinancing, which closed on March 25, 2024, amends and extends the facilities through June 2027.
Bracewell’s cross-border, multi-disciplinary team also included partners Andrew C.J. Bueso, Olivia Caddy, William H. Ebert, Rachel B. Goldman, Christie L. Latimer, Thomas M. Tomlinson, William A. (Trey) Wood III and Manuel Vera; of counsel Robin J. Miles; senior counsel Bagyasree Nambron, Kenni C. Wilkinson and Emily A. Banse; and associates Young June Jhe, Katie J. Jones, Sameer Ahuja, Dylan W. Benac and Nour Haikal.
This restructuring also won the American Bankruptcy Institute’s International Matter of the Year Award last fall.
The IFLR Europe Awards recognize legal innovation in cross-border deals that improve the European investment environment. They highlight law firms and deals that have broken new legal ground in the past year.
