(Corrects headline to make it clear that McDermott has not filed but plans to file for Chapter 11 bankruptcy protection)
Jan 21 (Reuters) - U.S. oilfield services provider McDermott International Inc plans to file a Chapter 11 bankruptcy protection with the U.S. Securities and Exchange Commission on Tuesday.
The restructuring deal will be implemented through a Chapter 11 process that will be financed by a debtor-in-possession financing facility of $2.81 billion, the company said.
Texas-based McDermott's total debt stood at $9.86 billion as of Nov. 4, 2019.
The company's shares were down 15% in premarket trade. (Reporting by Shradha Singh in Bengaluru)