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McDermott (MDR) -- Wette auf Investitionsgüter/Öl&Gas USA etc.

eröffnet am 26.01.18 16:50:10 von
neuester Beitrag 10.03.21 00:02:07 von

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10.03.21 00:02:07
Beitrag Nr. 42 ()
Antwort auf Beitrag Nr.: 62.482.872 von faultcode am 24.01.20 23:18:08Lummus ist wieder da! :laugh:

20.09.19
Zitat von faultcode: Lummus Technology ist quasi die Perle bei MDR, der Rest siehe Kursverlauf...

8.3.
McDermott Reinforces Technology Focus, Completes Minority Investment in Lummus Technology
https://www.mcdermott-investors.com/news/press-release-detai…
...
McDermott International, Ltd today announced that it has invested in Lummus Technology Holdings I LLC, a holding company of Lummus Technology. Under the terms of the share and asset purchase agreement for the sale of Lummus Technology—entered into with a joint partnership between Haldia Petrochemicals Ltd., a flagship company of The Chatterjee Group, and Rhône Capital (the "Joint Partnership") on January 21, 2020—McDermott was provided the option to purchase a minority common equity ownership interest in the entity purchasing Lummus. McDermott recently exercised its option.

"This agreement not only reinforces our already-robust and active relationship, but also reflects our support of—and belief in—Lummus' long-term strategic plan," said David Dickson, President and CEO of McDermott. "Together, we will continue to combine McDermott's innovative EPC delivery with Lummus' innovative technology solutions to our customers across the globe."

The sale of Lummus was part of McDermott's comprehensive restructuring process, which McDermott successfully completed on June 30, 2020. Since the sale, McDermott and Lummus have continued to work together through their strategic agreement to bring customers technology solutions through the entire plant life cycle.

...
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05.01.21 14:06:41
Beitrag Nr. 41 ()
Antwort auf Beitrag Nr.: 66.009.266 von faultcode am 10.12.20 01:05:055.1.
McDermott Completes New Capital Raise For $560 Million
http://www.mcdermott-investors.com/news/press-release-detail…

Bolsters Balance Sheet and Provides Financial Flexibility
...
McDermott International, Ltd today announced that on Dec. 31, 2020, it secured $560 million in new capital. As announced on Nov. 18, 2020, the new capital was provided through a series of transactions which was secured through commitments from certain existing lenders and shareholders. McDermott met all conditions necessary to close these transactions and has strengthened its balance sheet and increased its liquidity to provide financial flexibility for continued strong project execution and pursuit of new opportunities.

"With the completion of the capital raise, McDermott has recapitalized its business with the support of its investors," said David Dickson, President and Chief Executive Officer of McDermott. "This additional capital solidifies our liquidity position and allows us to continue delivering superior project execution for our customers and pursue new growth opportunities. We want to thank our investors for the confidence they have in McDermott and its business model and our customers for their continued support."

...
http://www.mcdermott-investors.com/news/press-release-detail…
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10.12.20 01:05:05
Beitrag Nr. 40 ()
Antwort auf Beitrag Nr.: 65.775.648 von faultcode am 19.11.20 22:00:12http://www.mcdermott-investors.com/news/press-release-detail…

McDermott Expands Participation in $170 Million Common Share Issuance



ich finde es schon etwas lustig, daß die Email alerts hier immer noch funktionieren :laugh:


Diesen Data room habe ich so auch nicht nicht gesehen: http://www.mcdermott-investors.com/data-room/default.aspx

McDermott maintains a password-protected data room containing material financial and other information concerning our business. Shareholders and prospective shareholders can obtain access to the data room upon entering into a confidentiality agreement with McDermott. To request a confidentiality agreement, please contact Maria Lopez at...
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19.11.20 22:00:12
Beitrag Nr. 39 ()
ich habe die IR gefragt, ob und wann mit einem IPO der neuen McDermott zu rechnen sei.

Ja, sei angedacht innerhalb von circa 3 Jahren nach Abschluss des Insolvenz-Verfahrens. (Das müsste mMn im Juni gewesen sein; siehe Beitrag Nr. 38 oben.)

Konkrete Pläne lägen derzeit aber nicht vor.
2 Antworten
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03.07.20 16:01:11
Beitrag Nr. 38 ()
Antwort auf Beitrag Nr.: 63.922.283 von faultcode am 06.06.20 00:21:0306/30/2020
McDermott Successfully Completes Comprehensive Restructuring Process
http://www.mcdermott-investors.com/news/press-release-detail…

HOUSTON, June 30, 2020 /PRNewswire/ -- McDermott International Ltd. ("McDermott" or the "Company") today announced that the Company has successfully completed its restructuring process. The comprehensive balance sheet restructuring equitizes nearly all of McDermott's $4.6 billion of funded debt. The Company emerges with $2.4 billion in letter of credit capacity and $544 million of funded debt.

McDermott has completed the sale of Lummus Technology to a joint partnership between Haldia Petrochemicals Ltd., a flagship company of The Chatterjee Group, and Rhône Capital having received all required regulatory approvals and pursuant to the Company's plan of reorganization.

Proceeds from the sale of Lummus Technology will repay the debtor-in-possession financing in full, as well as fund emergence costs and provide cash to the balance sheet for long-term liquidity.

"We are pleased to have completed this process so swiftly thanks to the dedication of our employees and the support of our new owners, customers, suppliers and partners," said David Dickson, President and Chief Executive Officer of McDermott. "We will continue executing on our significant backlog, with a new capital structure to match and support the strength of our operating business, and we emerge well-positioned for long-term growth and success, even amid this period of global uncertainty. We look forward to continued delivery on customer projects. Finally, we congratulate our Lummus colleagues, and look forward to continuing our working partnership with Lummus as we move into the future."

...
Mcdermott International (Old) | 0,072 $
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06.06.20 00:21:03
Beitrag Nr. 37 ()
Antwort auf Beitrag Nr.: 62.483.079 von faultcode am 25.01.20 00:00:06auch hier fröhliches Chapter 11-Daytrading:

Mcdermott International (Old) | 0,108 $
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15.02.20 00:29:42
Beitrag Nr. 36 ()
Dieser Laden steckt einfach nur bis zum Kopf voll mit krimineller Energie!
Ch11 wäre nicht nötig gewesen, wenn man sich mal anschaut mit welch prosperiender Eigenwerbung sie ihr volles Auftragsbuch anpreisen um andere Gemüter zu überzeugen. $20Milliarden backlog für 2020+2021. Selbst wenn sie in diesen Jahren durch Inkompetenz jährlich weitere $2Milliarden an Strafzahlungen durch CB&I Projekte akquirieren und somit ihre Ausgaben auf $8Millarden pushen wie 2019, dann hätten sie mit momentan $5Milliarden Schulden irgendwann in 2022 diese auf $1Milliarde gesenkt (8+8+5-20=1). Zumindest nach meiner Milchmädchenrechnung. Aber debt-to-equity is ja was Schönes was es so interessanterweise auch nur in den USA gibt...
Mcdermott International (Old) | 0,049 €
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25.01.20 00:00:06
Beitrag Nr. 35 ()
Antwort auf Beitrag Nr.: 62.482.959 von faultcode am 24.01.20 23:34:12
CEO David Dickson
Ich warte hier auf ein neues Management (siehe auch z.B. bei CGG Veritas, denen das gut bekam), bevor ich weitersehe.

Es stehen vielleicht noch einige Class actions aus 2018 und 2018 an, und nicht nur durch Aktionäre:
https://www.classaction.org/news/four-companies-face-lawsuit…


--> und, wie auch oben angesprochen, ergibt sich mMn hieraus auch Potenzial für weitere Class actions:
20.09.19
Zitat von faultcode: ...--> da stehen nun mMn einige wichtige Fragen zur Klärung an; siehe oben die Fusion mit Chicago Bridge & Iron z.B....


--> David Dickson (ein Schotte) ist President & Chief Executive Officer seit 2013 (davor 11 Jahre Technip):
https://www.mcdermott.com/Who-We-Are/Leadership-Team/Meet-Ou…

--> der Mann hat's versaut; so einfach ist das; entweder aus Dummheit, Hybris oder krimineller Energie, oder eine Mischung aus dem

--> das Unternehmen ist keine Pommesbude, wurde aber so geführt, und hatte Ende 2018 noch 14,600 eigene MA's weltweit:

At December 31, 2018, we employed approximately 31,900 persons worldwide, comprised of approximately 14,600 salaried employees and approximately 17,300 hourly and craft employees. Our number of employees, particularly hourly and craft, varies in relation to the location, number and size of projects we have in process at any given time.
Mcdermott International (Old) | 0,532 €
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24.01.20 23:34:12
Beitrag Nr. 34 ()
Antwort auf Beitrag Nr.: 62.482.872 von faultcode am 24.01.20 23:18:0823.1.
McDermott International Enters Chapter 11 Bankruptcy
https://seekingalpha.com/article/4318778-mcdermott-internati…

• The management team at McDermott International, after several months of inaction and poor decision-making, finally took the company into Chapter 11 protection.
• This move will wipe shareholders out and leave the most junior holders of debt with very little.
• The company that emerges from the process looks to have significant potential, but only time will tell.


...
Common shareholders will be essentially wiped out, while holders of the Senior Notes of the firm won’t end up much better off.
...
In the first half of 2019, the company saw new bookings worth around $14 billion. In the second half of the year, this figure plummeted to less than $3 billion.
...
The firm has also secured a $2.4 billion letter of credit facility, and when all is said and done, it will exit Chapter 11 with around $500 million in funded debt on its books. In all, $4.6 billion in debt will be wiped clean from the company’s books.
...
One frustrating thing from the perspective of a watcher of the firm (and likely even more frustrating for shareholders) is that management delayed selling off Lummus Technology for far too long. Had action been taken up a year earlier, it’s very likely McDermott would not be in this tough position today, but only now that they decided to file for bankruptcy did they decide to sell their valuable technology segment off. (FC: an zwei private equity firms: The Chatterjee Group + Rhone Group als Plan)
...
Senior Notes holders, for instance, are going to walk away with only 19% of their estimated value of $1.402 billion. This will come in the form of an estimated 6% of the common shares in the new company that will emerge from bankruptcy. They will also receive some additional shares (an unspecified amount, but likely nominal) plus some warrants. Everybody junior to them, like shareholders, will walk away with nothing.
...
Last year, it was estimated that free cash flow for the business was -$1.191 billion. If bankruptcy only takes a short part of the 2020 fiscal year, the company believes it will see net outflows this year of an additional $550 million. Next year, though, it should see net inflows of $56 million, and for the full period of 2020 through 2024, it expects net inflows of $1.808 billion. If this does come to pass, the company should go on to be worth far more than the $2.25 billion mid-point a third-party firm evaluated it to be worth on an EV (enterprise value) basis. This could leave new shareholders holding an attractive business, even if the absence of Lummus Technology will cost the company $255 million in lost operating income on a run rate basis.

...
Mcdermott International (Old) | 0,532 €
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24.01.20 23:18:08
Beitrag Nr. 33 ()
Antwort auf Beitrag Nr.: 61.875.729 von faultcode am 08.11.19 18:09:28
MDRIQ -- McDermott files for Chapter 11
Zitat von faultcode: fast Penny stock -- damit ist hier vorerst Schicht im Schacht:..




21.1.
McDermott to file for Chapter 11 bankruptcy protection
https://uk.reuters.com/article/us-mcdermott-intern-bankruptc…

..U.S. oilfield services provider McDermott International Inc MDR.N said on Tuesday it would file for prepackaged bankruptcy protection under Chapter 11, as it looks to cut debt that ballooned following a major acquisition in 2018.

The restructuring will be financed by a debtor-in-possession (DIP) financing of $2.81 billion, the company said. As part of the deal, McDermott has also entered a stalking-horse agreement to sell its Lummus Technology unit for $2.73 billion.

DIP financing packages allow bankrupt companies to remain in business and fund operations as bankruptcy case proceeds.

Texas-based McDermott’s total debt stood at $9.86 billion as of Nov. 4, 2019.

“As a result of the transaction, we are eliminating over $4.6 billion in debt from our balance sheet and we will emerge with robust liquidity and significant financing to execute on customer projects in our backlog,” Chief Executive Officer of McDermott David Dickson said in a note.

McDermott’s shares were down 15% in premarket trade. Bloomberg reported on Friday the company was preparing to file for bankruptcy..

McDermott has been reeling under heavy debt since it combined its offshore engineering and construction business with Chicago Bridge & Iron Co (CB&I) in an all-stock deal valued at around $6 billion including nearly $4 billion in debt.

The company’s total liabilities jumped to $7.86 billion at the end of June 2018 after it acquired CB&I, from $1.36 billion in the previous quarter.

McDermott last year raised another $1.7 billion to support its operations and concurrently withdrew its full-year forecast...


20.09.19
Zitat von faultcode: Lummus Technology ist quasi die Perle bei MDR, der Rest siehe Kursverlauf...


Zitat von faultcode: ...--> das heißt aber mMn auch, daß die Fusion mit Chicago Bridge & Iron ab Ende 2017 nicht zur Stabilisierung des Unternehmens führte :eek:
--> einen Monat nach der Ankündigung ging es mit dem Kurs im Schnitt nur bergab. Aber, siehe oben, warnende Stimmen gab's schon damals sofort nach Ankündigung, und das ist mMn eher auffallend...
Mcdermott International (Old) | 0,532 €
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