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McDermott Announces Pricing of Nordic Bond Offering as Part of Refinancing

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HOUSTON, July 1, 2026 /PRNewswire/ — McDermott International, Ltd (“McDermott” or the “Company”) today announced the pricing of USD $550 million aggregate principal amount of 10.5% senior secured first lien bonds due July 2031 in the Nordic market. Net proceeds from the bond issue will be deposited in an escrow account, with final disbursement to McDermott contingent upon satisfaction of certain conditions, including successful consummation of the other elements of the refinancing transactions. Upon disbursement, the net proceeds will be applied towards cash collateralizing Letter of Credit (LC) facilities, refinancing existing debt and general corporate purposes. An application will be made for the bonds to be listed on the Euronext Nordic ABM.

DNB Carnegie acted as Global Coordinator and Joint Bookrunner, and Clarksons Securities as Joint Bookrunner in the bond offering.

The bond offering is a core element of the Company’s previously disclosed refinancing initiatives, which include:

The Company previously announced an equity financing transaction fully backstopped by certain of its largest shareholders in the amount of USD $500 million open to shareholders who are accredited investors. For the equity rights offering, the record date has been extended to July 13, 2026, and the subscription period will expire on Monday, August 17, 2026, at 4:59 p.m. (Eastern Time).The Company has established an ex‑rights date of July 10, 2026. Shareholders of record on the July 13, 2026 record date, including those who purchase shares prior to the ex‑rights date, will be entitled to participate in the rights offering.Supplemental materials on the rights offering will be mailed to shareholders who were owners of record as of June 30, 2026. Mailing is expected to commence on July 8, 2026.The Company will hold a special general meeting of shareholders at 9:00 a.m. (Eastern Time) on July 13, 2026. The Proxy Statement for the special general meeting has been mailed to owners of record as of June 12, 2026, and is posted on the Company’s website. The meeting will be virtual without a physical location.

Management expects to close the refinancing transactions in the third quarter of 2026.

The securities contemplated to be issued have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and the securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities or blue sky laws. In the United States, the offering and sale of any securities will be made only to persons reasonably believed to be accredited investors as defined in Rule 501(a) of Regulation D promulgated under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.

This communication shall not constitute an offer to sell or a solicitation of any offer to purchase any securities, nor shall there be any offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of securities will be made solely pursuant to a private offering memorandum or term sheet, as applicable, and only to such persons and in such jurisdictions as are permitted under applicable law.

About McDermott

McDermott is a premier, fully integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott’s innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 30 countries, McDermott’s locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Forward-Looking Statements

McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. For detailed information regarding risks that could materially and adversely affect McDermott’s business, financial condition, results of operations or cash flows, see the information under the caption “Risk Factors” in McDermott’s Annual Report for the year ended December 31, 2025, a copy of which is available on McDermott’s website at www.mcdermott.com/investors, and in other reports and materials made public by McDermott from time to time. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott’s management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement. All forward-looking statements are qualified in their entirety by this cautionary statement.

Investor Contact:      
Kevin Leader
Vice President, Treasurer
Kevin.leader@mcdermott.com
+1 (281) 870-5695

Media Contact: 
Reba Reid
Vice President, Communications
rreid@mcdermott.com
+1 (281) 219-5844

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SOURCE McDermott International, Ltd

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Report: AI Is Changing Leadership Faster Than Organizations Are Adapting

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NEW YORK, Oct. 20, 2026 /PRNewswire/ — AI is accelerating how quickly work gets done, but the leadership structures, skills, and safeguards needed to manage that speed are struggling to keep pace.

A new report from The Conference Board highlights the challenges emerging for leaders as organizations integrate AI into daily work. Among those challenges, AI’s rapid pace is creating new managerial bottlenecks, fatigue, and the risk of “work slop.” Leaders must now evaluate an influx of AI-generated work without sacrificing quality, sound judgment, or employee development.

Drawing on a survey of 775 international leaders and 20 interviews, the findings also reveal a gap between AI adoption and leadership readiness. Nearly two-thirds of surveyed leaders say their organizations are already using AI across several functions or have highly integrated it into daily work. Yet more than one-third (37%) say ownership of AI-related leadership decisions remains inconsistent or unclear.

To address these challenges, the report calls on organizations to adapt their leadership structures, decision-making processes, and development programs to keep pace with changing expectations.

“AI is fundamentally transforming what it means to be an effective leader,” said Diana Scott, US Human Capital Center Leader, The Conference Board. “Success will depend less on managing tasks and more on guiding teams through change, building trust, and rethinking how work gets done. Organizations that focus only on AI skills risk overlooking the broader leadership capabilities needed to turn the technology into meaningful business value.”

AI is already embedded in work.

64% say AI is used across several functions or highly integrated into daily work.

Accountability is lagging.

37% say ownership of AI-related leadership decisions is inconsistent or unclear.85% of organizations where AI is highly integrated report clear ownership or formal governance, compared with just 26% of organizations still exploring AI.

Middle and lower management face disruption.

While just 4% of leaders expect a reduction in C-Suite roles, 38% anticipate fewer middle managers, and 36% expect reductions in both frontline managers and project leaders.

“AI is changing how work gets done faster than organizations are changing how they’re structured,” said Erka Amursi, Principal Researcher, Human Capital, The Conference Board. “Rather than simply eliminating management layers, companies should rethink how decisions are made, responsibilities are shared, and performance is measured to ensure their organizational structures support new ways of working.”

Leadership is becoming more distributed.

36% favor a hybrid leadership model, in which leadership input and responsibilities are shared.30% favor distributed leadership, where responsibilities are spread across levels, functions, and roles.24% favor shared leadership, where individuals take the lead according to the expertise required.Just 5% say a traditional leader-centered model is best suited for the AI era.

Critical thinking is the most important leadership skill in the AI era.

52% rank critical thinking and decision-making as the most important enduring leadership skill.Among AI-expanded competencies, continuous AI literacy and knowing when human judgment should override AI tie for first at 40% each.

Work redesign becomes a leadership skill.

33% identify redesigning work for human-AI collaboration as an important AI-expanded competency.

Leaders want hands-on AI training.

72% favor hands-on practice with AI tools over more traditional development approaches.

Recommendations for CHROs:

Clarify AI accountability and decision rights: Define who owns AI-related decisions and who remains accountable for AI-generated outputs.Balance AI speed with human judgment: Build in time for reflection, review, and coaching so faster work doesn’t compromise quality, learning, or accountability.Test more flexible leadership models: Experiment with distributing leadership responsibilities while maintaining clear accountability, authority, and decision-making structures.Integrate AI into workforce planning: Bring HR, business, finance, and technology leaders together to align work redesign with staffing, skills, and technology needs.Strengthen distinctly human leadership skills: Build critical judgment, systems thinking, risk awareness, coaching, empathy, and the ability to provide context.Tailor AI development by leadership level: Move away from generic AI training toward practical, role-specific learning tied to leaders’ actual work.

About The Conference Board
The Conference Board is the global, Member-driven think tank that delivers Trusted Insights for What’s Ahead®. Founded in 1916, we are a nonpartisan, not-for-profit organization.

TCB.org  l  Learn about Membership

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SOURCE The Conference Board

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RENPHO Expands its Rejuven Beauty Line with New RENPHO Rejuven Artemis II Aër LED Light Therapy Mask

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Engineered for radiance, the completely cordless, FDA-cleared LED face mask blends science and technology with skincare through five customizable light therapy modes and sculpted comfort at an accessible price

IRVINE, Calif., Oct. 20, 2026 /PRNewswire/ — RENPHO, a global leader in smart wellness technology, today announced the RENPHO Rejuven Artemis II Aër LED Light Therapy Mask, expanding its growing Rejuven beauty line with a completely cordless approach to at-home skincare. Artemis II Aër builds on last year’s Artemis LED Light Therapy Mask launch with FDA-cleared light therapy featuring five customizable modes, a fully integrated rechargeable battery and controls, up to two hours of use per charge, and a soft, sculpted design made for comfortable, convenient treatments.

Red-light therapy is increasingly making its way into consumers’ at-home skincare routines, with market research firm Circana naming red light therapy LED facial devices a standout skincare category in 20251. But beauty shoppers aren’t necessarily equating higher prices with better results — just 14% of U.S. beauty buyers believe a higher price indicates a better-quality product2. At $259.00, Artemis II Aër puts FDA-cleared light therapy within reach in a convenient, 10-minute routine.

A Completely Cordless LED Light Therapy Mask for At-Home Skincare
Unlike many LED masks that tether users to an outlet or handheld controller, Artemis II Aër integrates its controls and rechargeable battery directly into the mask for a completely cordless experience. A single charge delivers up to two hours of use — or 12 full treatment sessions — so users can go nearly two weeks of daily use between charges.

Each Artemis II Aër session takes just 10 minutes, making light therapy easy to fit into a morning skincare routine, a nighttime wind-down or a moment of self-care. The mask’s soft, 3D-sculpted silicone contours around the face for comfort, while adjustable head straps help personalize the fit. Inside, 280 high-density LEDs are designed to provide comprehensive coverage across the face and jawline.

“With Artemis, we saw an opportunity to bring the same philosophy that has shaped our RENPHO wellness products into beauty: thoughtful technology should be effective and accessible,” said Toby Yu, Founder and CEO of RENPHO. “Artemis II Aër represents the next step in that vision, bringing together science, skincare and elegant design in a product that feels elevated without being out of reach.”

Five Red, Blue and Near-Infrared Light Therapy Modes
Designed to address multiple skincare needs through one device and FDA-cleared for at-home use, Artemis II Aër combines 620nm red light, 465nm blue light, and 850nm near-infrared light across five customizable modes, so users can tailor each treatment to their skincare goals:

Red + Near-Infrared: Treats full-face wrinkles, with infrared warmth.Red + Blue: Treats full-face wrinkles and mild-to-moderate inflammatory acne.Red: Treats full-face wrinkles and early signs of aging.Blue: Treats mild-to-moderate inflammatory acne.Near-Infrared: Infrared topical heating that relieves stiffness and promotes muscle-tissue relaxation.

With red, blue, and near-infrared wavelengths in a single device, Artemis II Aër lets users customize their skincare routine without buying separate products for different concerns.

Named a FrontrowMD Clinicians’ Choice
FrontrowMD named Artemis II Aër a Clinicians’ Choice, with their network of 1,000+ verified clinicians sharing the mask with clients across the U.S. Click here to learn more about the RENPHO x FrontrowMD partnership.

“This cordless LED mask can be worn at home during everyday activities, which may help remove some of the barriers that keep people from sticking with a consistent skincare routine,” said Dr. Melissa Dixon, MD, Dermatologist and FrontrowMD-verified Clinician. “The red and near-infrared light used in this device may help support natural processes involved in skin upkeep. Actually, research suggests that regular use of LED photobiomodulation, which is basically using specific wavelengths of light to support cell activity, can lead to visible improvements over time. I also like that the mask covers the full face, so there is no need to move it around during a session. Patients looking for a simple, non-invasive way to support skin appearance at home may appreciate the convenience of the Artemis.”

Beauty Tech Made for Gifting
Launching ahead of the holiday season, Artemis II Aër makes a premium self-care gift for skincare enthusiasts, beauty-tech fans and anyone looking to upgrade their at-home routine. Beauty remains a popular gifting category— one in three U.S. holiday shoppers planned to buy beauty products as gifts last season, according to Circana’s annual holiday purchase intentions survey3. With five customizable modes and an approachable price point, Artemis II Aër is a high-tech skincare gift designed to be used well beyond the holidays.

RENPHO’s Growing Vision for Beauty and Skincare
RENPHO is bringing its beauty portfolio together under Rejuven, the beauty line it introduced with the original Artemis mask in 2025. Anchored by the expanding Artemis family of LED Light Masks, Rejuven extends RENPHO beyond its roots in smart wellness and recovery, with more beauty technologies slated to launch in the coming months.

The RENPHO Rejuven Artemis II Aër LED Light Therapy Mask is available now for $259.00 on RENPHO.com and Amazon.com.

For product images, specs and more information, please download the RENPHO press kit.

1 Source: Circana, “Beauty Sales Sparkle in Holiday 2025,” 2025.
2 Source: Circana, “U.S. Beauty Industry Grows in the First Half of 2025“, 2025
3 Source: Circana, “2025 U.S. Holiday Purchase Intentions Study,” 2025

Frequently Asked Questions About LED Light Therapy Masks

What does an LED light therapy mask do? An LED light therapy mask uses specific wavelengths of light to target different skincare concerns, such full-face wrinkles or mild-to-moderate inflammatory acne. The RENPHO Rejuven Artemis II Aër combines red, blue and near-infrared light across five customizable modes, allowing users to tailor at-home treatments to their individual skincare goals.

What is the difference between red, blue and near-infrared light therapy? Each wavelength serves a different purpose. On the RENPHO Rejuven Artemis II Aër:

620nm red light helps with the treatment of full-face wrinkles.465nm blue light helps treat mild-to-moderate inflammatory acne.850nm near-infrared light provides gentle warmth that helps relieve stiffness and promotes muscle-tissue relaxation.

Users can select individual wavelengths or combination modes based on their skincare goals.

What should you look for in an at-home LED light therapy mask? When choosing an at-home LED light therapy mask, look at the wavelengths offered, treatment options, fit and comfort, session length and whether the device needs a cord or external controller. The RENPHO Rejuven Artemis II Aër offers red, blue and near-infrared light across five customizable modes, 10-minute sessions, and a completely cordless design with integrated controls and a rechargeable battery.

Is there a cordless LED light therapy mask for at-home use? Yes. The RENPHO Rejuven Artemis II Aër is a completely cordless LED light therapy mask designed for at-home use. Unlike masks that need a separate handheld controller or connection to an outlet, Artemis II Aër builds its rechargeable battery and controls directly into the mask, with up to two hours of use per charge. It offers red, blue and near-infrared light across five customizable modes, with each treatment session lasting 10 minutes.

About RENPHO
Established in 2016, RENPHO was founded with a single vision: to improve lives and empower people worldwide through smart and simple healthy living solutions. Since its inception, RENPHO has created a robust ecosystem of smart, innovative recovery, wellness, and beauty products, providing accessible solutions for anyone looking to embark upon a wellness journey. Known for its state-of-the-art smart scales and powerful massage products, RENPHO has become not only a powerhouse in the health and wellness tech industry but also a leading innovator that continuously puts out carefully researched, thoughtfully crafted products echoing the company’s mantra: Empower Your Wellness. To learn more, visit RENPHO.com. For more news, information, and updates about the brand and its products, follow RENPHO on Instagram and TikTok.

Media contact:
renpho@craftedpr.com

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SOURCE RENPHO

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Century Communities to Celebrate October Grand Opening of Rainier Ridge Estates, Offering New Homes in Enumclaw, WA

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Rambler and two-story floor plans from the high $700s debut in the Mount Rainier foothills, with homes released for sale on Grand Opening day

KEY TAKEAWAYS

Grand Opening Event: Century Communities will host a Rainier Ridge Estates Grand Opening in Enumclaw, Washington, on Saturday, October 24, 2026, from 10 a.m. to 6 p.m.Pricing and Sales Release: Homes at Rainier Ridge Estates in Enumclaw, Washington, are priced from the high $700s and will be released for sale beginning October 24, 2026.Floor Plan Collection: Rainier Ridge Estates offers rambler and two-story floor plans from 2,099 to 3,283 sq. ft., with 3 to 5 bedrooms, 2 to 3.75 bathrooms, and 2- to 3-car garages.Model Home: The professionally merchandised model at Rainier Ridge Estates showcases the two-story Shenandoah plan, featuring 2,949 sq. ft., a main-level guest suite, and a covered patio.Schools and Location: Rainier Ridge Estates is served by Enumclaw School District and sits about 30 miles from Tacoma, 41 miles from Crystal Mountain Resort, and 45 miles from downtown Seattle.

ENUMCLAW, Wash., Oct. 20, 2026 /PRNewswire/ — Century Communities, Inc. (NYSE: CCS)—a top national homebuilder, industry leader in online home sales, and featured on America’s Most Trustworthy Companies by Newsweek—announced it will open Rainier Ridge Estates, a new community of single-family homes in Enumclaw, with a Grand Opening celebration on Saturday, October 24, from 10 a.m. to 6 p.m. The 87-homesite community will release its first homes for sale that day, offering rambler and two-story designs from the high $700s, set against the backdrop of the Mount Rainier foothills.

Grand Opening guests can explore available homesites and floor plans, tour the professionally merchandised Shenandoah model, meet with the Century Communities team, learn about limited-time Grand Opening financing opportunities, and enjoy seasonal refreshments and activities for all ages.

Learn more, join the interest list, and RSVP for the Grand Opening at www.CenturyCommunities.com/RainierRidgeGO.

“Rainier Ridge Estates offers Enumclaw buyers more space, more choice, and a real connection to the outdoors, with 10 versatile floor plans set in the foothills of Mount Rainier,” said Mick Cermak, Division President. “From ramblers to two-story plans with options like main-level guest suites and multigenerational layouts, there’s a home here for every stage of life. Join us at our Grand Opening on October 24 to tour our new model and find the home that checks every box on your wish list.”

The collection ranges from the Biscayne, a rambler with 2,099 sq. ft., 3 bedrooms, and 2 bathrooms, to the Garrett, a two-story plan with 3,283 sq. ft., 5 bedrooms, and 3.5 bathrooms. Select plans feature vaulted great rooms, multigenerational living options, and 3-car garages, and the community features expansive homesites and cul-de-sac lots.

RAINIER RIDGE ESTATES | ENUMCLAW, WA
Grand Opening on 10/24 | Coming soon from the high $700s

87 single-family homesites, including cul-de-sac homesitesRambler and two-story floor plans from 2,099 to 3,283 sq. ft.3 to 5 bedrooms, 2 to 3.75 bathrooms, and 2- to 3-car garagesSelect plans offer flexible living spaces, main-floor guest suites, multigenerational options, 3-car garages, and expansive homesitesServed by Enumclaw School District: Sunrise Elementary School, Enumclaw Middle School and Enumclaw High SchoolProximity to outdoor recreation: Pinnacle Peak Park is about 4 miles away; Nolte State Park and Deep Lake are about 8 miles; Foothills Trail is about 15 milesMount Rainier National Park about 40 miles away; Crystal Mountain Resort is about 41 miles away; Tacoma about 30 miles away; and downtown Seattle about 45 miles away

Community Location
44807 244th Avenue SE
Enumclaw, WA 98022
425.275.5119

DISCOVER THE FREEDOM OF ONLINE HOMEBUYING:
Century Communities is proud to feature its industry‑first online homebuying experience on all available homes in Washington.

Shop homes at CenturyCommunities.comClick “Buy Now” on any available homeFill out a quick Buy Online formElectronically submit an initial earnest money depositElectronically sign a purchase contract via DocuSign®

Learn more about the Buy Online experience at www.CenturyCommunities.com/online-homebuying.

FREQUENTLY ASKED QUESTIONS

Question: When is the Grand Opening of Rainier Ridge Estates in Enumclaw, WA?
Answer: The Grand Opening of Rainier Ridge Estates will be held on Saturday, October 24, 2026, from 10 a.m. to 6 p.m. Homes at Rainier Ridge Estates will be released for sale starting that day.

Question: What are new homes priced from at Rainier Ridge Estates?
Answer: As of October 2026, new homes at Rainier Ridge Estates are priced from the high $700s, with 10 floor plans from 2,099 to 3,283 sq. ft.

Question: Does Rainier Ridge Estates offer rambler homes?
Answer: Yes. Rainier Ridge Estates offers two rambler floor plans—the Biscayne with 2,099 sq. ft. and the Summit with 2,393 sq. ft.—alongside a selection of two-story plans.

Question: What schools serve Rainier Ridge Estates?
Answer: Rainier Ridge Estates is served by Enumclaw School District, including Sunrise Elementary School, Enumclaw Middle School, and Enumclaw High School.

Question: How far is Rainier Ridge Estates from Seattle and Tacoma?
Answer: Rainier Ridge Estates is about 45 miles from downtown Seattle, 30 miles from Tacoma, and 32 miles from Sea-Tac International Airport.

About Century Communities
Century Communities, Inc. (NYSE: CCS) is one of the nation’s largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America’s Most Trustworthy Companies for four consecutive years. Through its Century Communities and Century Complete brands, Century’s mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.

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SOURCE Century Communities, Inc.

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