McDermott (NYSE:MDR)
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From Jul 2019 to Jul 2024
J. Ray McDermott, S.A. ("J. Ray"), a subsidiary of
McDermott International, Inc. ("McDermott") (NYSE:MDR), announced
today that it has extended the expiration date of its previously
announced cash tender offer and consent solicitation (collectively,
the "Offer") to purchase all of J. Ray's outstanding 11% Senior
Secured Notes due 2013 (the "Notes"). As a result of the extension,
the Offer will expire at 5:00 p.m., New York City time, on June 5,
2006, unless further extended (the "Expiration Date"). J. Ray has
extended the Offer in order to allow for additional time in an effort
to satisfy one of the conditions to the Offer, the completion of a
proposed credit facility.
This announcement is not an offer to purchase, a solicitation of
an offer to purchase or a solicitation of an offer to sell securities,
with respect to any of the Notes. The Offer is being made solely
pursuant to the terms of the Statement and related Letter of
Transmittal and Consent. Each Note holder should read the Statement
and accompanying documents, as they contain important information.
J. Ray McDermott is a leading provider of engineering,
procurement, construction, and installation services for offshore oil
and gas field developments worldwide. McDermott International, Inc. is
a leading worldwide energy services company. McDermott's subsidiaries
provide engineering, construction, installation, procurement,
research, manufacturing, environmental systems, project management and
facility management services to a variety of customers in the energy
and power industries, including the U.S. Department of Energy.
In accordance with the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995, McDermott cautions that
statements in this press release, which are forward-looking and
provide other than historical information, involve risks and
uncertainties that may impact actual outcomes. These forward-looking
statements include our statement regarding the expected expiration
date of the Offer. This statement is subject to uncertainties and
risks including, without limitation, that the Offer may be further
extended.