Anybody know what’s going on with McDermott. Lots of rumors going around.
2 replies (most recent on top)
Lots of rumors. Even more facts.
Facts:
MDR hires AlixPartners to address capital structure
MDR hires Kirkland & Ellis as an advisor
MDR is considering offers for Lummus Technology
MDR 5 year bonds are being sold at 70% loss
MDR has $69M debt payment due Nov 1 2019
MDR has neglected payments on vendors for months (see posts below for reference and projects)
Facts.
Long time coming. Anyone who's been reading the Ks and Qs were forwarned. And anyone who followed this board got the full picture ... at least before 2 months of censorship started.