Arias, Fábrega & Fábrega acted as Panama counsel to McDermott International a premier, fully integrated provider of technology, engineering and construction solutions to the energy industry, in the closing of its private placement of US$300 million of redeemable preferred stock and warrants to purchase 6,773,094 shares of the Company's common stock with investment funds managed by the Merchant Banking Division of The Goldman Sachs Group, Inc. and the availability of the previously announced US$230 million letter-of-credit facility. The net proceeds from the private placement are expected to be used for general corporate purposes, including working capital requirements, and the increase in letter-of-credit capacity is expected to enhance the Company's readiness to book anticipated strong order intake.

Barclays acted as lead placement agent and Credit Agricole Securities (USA) Inc., ABN AMRO Securities (USA) LLC, RBC Capital Markets, LLC, and BMO Capital Markets Corp acted as placement agents. The Goldman Sachs Investment Banking Division acted as advisor to Goldman Sachs MBD in connection with the private placement.

Barclays and Credit Agricole Corporate Investment Bank acted as joint lead arrangers for the letter of credit facility with Moelis & Company LLC acting as financial advisor to McDermott.