Arias, Fábrega & Fábrega acted as Panama counsel to its Houston based client McDermott International (NYSE: MDR) in the joint offering by Post-Merger Co-Issuers McDermott Technology (US), Inc. and McDermott Technology (Americas), Inc. (each a wholly owned subsidiary of McDermott); of                     

            US$950 million in aggregate principal amount of senior unsecured notes due 2024, and

            US$550 million in aggregate principal amount of senior unsecured notes due 2026.

The net proceeds from the offering of the notes were used to pay a portion of the purchase price for certain transactions related to the merger with Chicago Bridge & Iron Company (CB&I).

The notes will be offered only to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended, and to certain non-U.S. persons in transactions outside the United States under Regulation S under the Securities Act.