Tauil & Chequer Advogados assists MCDermott in debt refinancing

Tauil & Chequer Advogados in association with Mayer Brown acted as special Brazilian legal counsel to McDermott Serviços Offshore do Brasil Ltda. and its affiliates

Tauil & Chequer Advogados in association with Mayer Brown advised McDermott and its affiliates in connection with all transactions involved in the refinancing of the group’s debt, including the 2018 revolving letter of credit, the 2019 senior secured loan, the Chapter 11 bankruptcy filing at the end of 2019, the Debtor-In-Possession Credit (DIP finance), through to the exit from bankruptcy and the negotiation of exit credit facilities, the roll-off credit agreement and new L/C facility agreements during 2020.

As Brazilian advisors, they advised the group in relation to all Brazilian legal aspects of the transaction indicated above, including analyzing the potential effects to the group’s business in the country, negotiating different collateral and guarantees granted by the Brazilian subsidiary, drafting corporate approvals, implementing conditions precedent and perfection requirements related to local security, and taking other actions necessary for their participation as a party in the different transaction documents.

TCMB’s team was led by partners Marcelo Frazão (pictured left) and Luis Montes (pictured right) and associates Dicea Ferraz, Ingrid Pistili, and Theodoro Scott.