J. Ray McDermott says no 11% notes tendered

New York, Sept. 16 - J. Ray McDermott SA said that none of its 11% senior secured notes due 2013 were tendered in its offer to buy up to $18.75 million of the securities at par.

J. Ray McDermott, a subsidiary of Houston energy services company McDermott International Inc., was required to tender for up to $18.75 million of the notes under the asset sale covenant in the indenture.

With the tender expired, the previously restricted $18.75 million is now unrestricted and is available for general corporate purposes.

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