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. [Read Full Press Release]