McDermott loan slides as investors digest Subsea 7’s hostile bid
April 24, 2018 at 14:02 PM EDT
April 24 (LPC) - U.S. engineering firm McDermott’s US$2.26bn term loan fell in the secondary loan market on Tuesday after a US$2bn unsolicited bid from offshore oil services firm Subsea 7 threatened to break up McDermott’s agreed bid for onshore engineering firm Chicago Bridge & Iron (CB&I).