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Engineering Company McDermott in Bankruptcy Talks With Lenders


McDermott International Inc. is in talks with its Lenders to file for Bankruptcy within weeks, according to people familiar with the situation.


The Houston-based engineering and construction company has struggled this year after it reported losses on some big liquefied natural gas construction projects.


A group of lenders led by HPS Investment Partners and Baupost Group LLC are in talks to provide a loan of around $2 billion to keep the company’s operations running during bankruptcy, the people also said.


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READ MORE (Wall Street Journal)


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This post first appeared on The 5th News, please read the originial post: here

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Engineering Company McDermott in Bankruptcy Talks With Lenders

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