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J. Ray McDermott tenders for $18.75 million 11% notes
New York, Aug. 13 - J. Ray McDermott, SA said it has started a tender offer to buy up to $18.75 million of its 11% senior secured notes due 2013.
The subsidiary of Houston-based energy services company McDermott International Inc. will pay par for the notes.
J. Ray McDermott said the offer is being made under the asset sale covenant in the note indenture using proceeds from the recently completed sale of the Oceanic 93 Shearleg Crane barge.
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