NEW YORK – Bracewell LLP advised Crédit Agricole Corporate & Investment Bank (Crédit Agricole) in the closing of a five-year amended $810 million senior secured revolving facility (facility) for McDermott International, Inc. (McDermott). Crédit Agricole acts as lead arranger and administrative agent.
The facility contains a $300 million revolving cash sublimit, and replaces McDermott’s previous $450 million credit agreement dated April 16, 2014, extending the maturity until 2022.
The credit facility was secured with vessels flagged in several foreign jurisdictions, including Panama and Malta.
Bracewell lawyers involved in this transaction included:
Partners: Robin J. Miles, Manuel Vera, Olivia Caddy, Rebecca Keep and Michele J. Alexander
Counsel: David J. Harty
Senior Associate: Eimear Murphy
Associates: Jeris Diana Brunette, Jason W. Keating and Luka Pavlovic