Chicago Bridge repays $2.45 billion in credit facilities upon merger

By Tali Rackner

Minneapolis, May 11 – Chicago Bridge & Iron Co. NV fully repaid its $1.15 billion five-year revolving credit facility, $800 million five-year revolving credit facility and $500 million five-year term loan facility, according to an 8-K filing with the Securities and Exchange Commission.

All debt with respect to these facilities was cancelled.

The paydown is in connection with the company’s combination with McDermott International, Inc. The combination was completed on Thursday.

Chicago Bridge engineers and constructs infrastructure projects. It is based in the Hague, and its worldwide administrative office is located in the Woodlands, Texas.

McDermott is a Houston-based provider of integrated engineering, procurement, construction and installation, front-end engineering and design and module fabrication services for upstream field developments.

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