Showing: 1-10 of 127
  • MRC Global Announces Completion of Senior Secured Term Loan and Asset Based Lending Facility Financings

    HOUSTON, Sept. 25, 2017 /PRNewswire/ -- MRC Global Inc. (NYSE:MRC) announced today that it has completed its previously announced financings of a new $400 million seven-year senior secured Term Loan B and an amendment and extension of its global senior secured asset based lending (ABL) facility, with a new size in the amount of $800 million. The Term Loan B matures in September 2024, and the ABL facility expires in September 2022. Under the Term Loan B, the company may elect to pay interest either at a rate based on LIBOR, subject to a floor of 1.00%, plus a 350 basis point margin, or at an alternative base rate. Under the ABL facility, the company may elect to pay interest on outstanding loans from time to time at a rate based on LIBOR plus an applicable margin ranging from 1.75% to 1.25% (based on availability under the ABL facility), or at an alternative base rate. U.S. borrowings under the ABL facility prior to December 1, 2017 will be at LIBOR plus a 175 basis point margin.

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  • MRC Global Renews Enterprise Framework Agreement with Shell

    HOUSTON, Sept. 6, 2017 /PRNewswire/ --MRC Global Inc., (NYSE: MRC) announced that its subsidiary, MRC Global (US) Inc., has renewed an Enterprise Framework Agreement with Shell Global Solutions International B.V.

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  • MRC Global Announces Third Quarter 2017 Earnings Release and Conference Call Schedule

    HOUSTON, Sept. 6, 2017 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) will release third quarter 2017 results on Thursday, November 2, 2017 after the market closes. In conjunction with the release, the Company will host a conference call, which will be webcast, on Friday, November 3, 2017 at 10:00 a.m. Eastern / 9:00 a.m. Central.
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  • MRC Global Inc. Announces Intention to Refinance the Company's Senior Secured Term Loans

    HOUSTON, Sept. 5, 2017 /PRNewswire/ -- MRC Global Inc. (NYSE:MRC) announced today that it is launching an effort to refinance in full the company's $414 million in outstanding principal amount of senior secured term loans under its existing term loan B, scheduled to mature in November 2019. As part of this effort, the company will seek to enter into a new, seven-year senior secured $400 million term loan B credit facility. In addition, the Company intends to amend its existing asset based lending facility (ABL) to extend the maturity to 2022 and size the new ABL facility at $800 million. The company expects to use proceeds of such a new term loan facility, together with a draw under the company's ABL facility, to repay in full all indebtedness outstanding under the existing term loan facility.

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  • ExxonMobil Selects MRC Global as Primary Valve Provider

    MRC Global Inc. (NYSE: MRC) announced that its subsidiary, MRC Global (US) Inc., has signed an agreement to be the primary global provider of valve and valve products and services to ExxonMobil. The agreement includes all of ExxonMobil's global projects and maintenance, repair and operations (MRO). Initial implementation focused on the downstream U.S. business unit, followed by the European Union and, the most recently added, Asia Pacific region.

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  • MRC Global Announces Second Quarter 2017 Results

    Sales of $922 million

    Net income attributable to common stockholders of $0

    Adjusted EBITDA of $44 million

    HOUSTON, August 3, 2017 /PRNewswire/ -- – MRC Global Inc. (NYSE: MRC), the largest global distributor, based on sales, of pipe, valves and fittings and related products and services to the energy industry, today announced second quarter 2017 results.

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  • MRC Global Awarded Multiple Nordic Project and MRO Contracts

    HOUSTON, July 17, 2017 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that its Norwegian subsidiary, MRC Global Norway AS, will provide specialty and high alloy valves, manifolds, fittings, tubing, enclosures, tube clamps and other special items for Statoil's Johan Castberg project. The Johan Castberg project is located in the Barents Sea; Statoil is expected to make an investment decision in 2017. MRC Global was also named the provider of instrument tubing, fittings, valves and manifold products to Deutsche Erdoel AG (DEA)'s Dvalin project in the Norwegian Continental Shelf. The project is expected to be completed and begin production in 2020.

  • MRC Global Renews Integrated Supply Agreement with NiSource Inc.

    HOUSTON, July 17, 2017 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced that its subsidiary, MRC Global (US) Inc., has extended its contract to provide integrated supply services and gas distribution products including pipe, valve and fitting (PVF) products and services to NiSource Inc.

  • MRC Global Opens New Regional Distribution Center in Central California

    HOUSTON, TX – June 8, 2017 – MRC Global Inc. (NYSE: MRC) announced today that its US subsidiary, MRC Global (US) Inc., has opened a new Regional Distribution Center in Shafter, CA, just outside of Bakersfield, CA. The new facility, located at 4000 Fanucchi Way, will hold approximately $15 million in inventory to support MRC Global’s operations on the West Coast and Alaska.

  • MRC Global Renews Global PVF Contract with Chevron

    HOUSTON, June 7, 2017 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced that it has extended its worldwide master contract with Chevron Corporation for seven more years. The contract allows them to provide pipe, valve and fitting (PVF) products and services to Chevron Corporation's global operations and project work.
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