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MRC Global Repurchases Stock and Secures New Loan
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MRC Global Repurchases Stock and Secures New Loan

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MRC Global ( (MRC) ) just unveiled an update.

MRC Global Inc. has announced a strategic move to repurchase all its outstanding 6.50% Series A Convertible Perpetual Preferred Stock from Mario Investments for approximately $361 million, aiming to simplify its capital structure and mitigate shareholder concerns over potential equity dilution. To finance this repurchase, MRC Global plans to launch a $350 million Term Loan B and amend its asset-based lending facility. The company anticipates that this transaction will enhance cash generation and earnings per share, reflecting its robust financial positioning and strategic foresight in the financial markets.

Learn more about MRC stock on TipRanks’ Stock Analysis page.

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