Arias, Fábrega & Fábrega acted as Panamanian counsel to Crédit Agricole Corporate and Investment Bank on an agreement to extend credit of up to US$1.2 billion to McDermott International, Inc. 

Crédit Agricole Corporate and Investment Bank acted as joint lead arranger, joint bookrunner and administrative agent for the Lenders and the Issuers; it also acted as collateral agent for the Lenders and the Issuers. 

The amounts due under the credit agreement are secured by mortgages on Panamanian vessels owned by subsidiaries and affiliates of McDermott International, Inc.