J. Ray McDermott tenders for $36.5 million 11% notes

New York, July 15 - J. Ray McDermott, SA said it has begun a tender offer for up to $36.5 million of its $200 million 11% senior secured notes due 2013.

The offer is being made under the asset sale covenant in the note indenture and will be funded with the remaining proceeds from the 2004 sale of the Derrick Barge 60 marine vessel.

Holders who tender will receive par.

J. Ray McDermott is a subsidiary of Houston-based energy services company McDermott International, Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.