McDermott Int'l To Offer 10 Mln Equity Units

(RTTNews) - McDermott International Inc. (MDR) said Monday it plans to offer 10 million tangible equity units, each with a stated value of $25.00, in an underwritten public offering.

Also McDermott intends to grant the underwriter an option to purchase up to an additional 1.5 million Units.

McDermott intends to use the proceeds from the offering for general corporate purposes.

Houston-based McDermott provides engineering, procurement, construction and installation services for upstream field developments.

McDermott stock closed Monday at $7.82, up $0.09 or 1.16%, on a volume of 4.2 million shares on the NYSE. In after hours, the stock dropped $0.22 or 2.81% at $7.60.