MRC Global takes steps to strengthen capital structure [Seeking Alpha]
MRC Global Inc. (MRC)
Last mrc global inc. earnings: 4/28 04:15 pm
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US:NYSE Investor Relations:
investor.mrcglobal.com/investor-overview
Company Research
Source: Seeking Alpha
MRC Global ( MRC ) said it agreed to repurchase all 363K shares of its 6.5% Series A convertible perpetual preferred stock as part of an agreement with Mario Investments, contingent upon the completion of a successful term loan financing; upon satisfaction of the required conditions in the repurchase agreement, the company will repurchase the preferred stock for ~$361M. To finance the preferred stock repurchase, MRC Global ( MRC ) said it is launching a $350M term loan financing with an expected term of seven years, and will pursue an amendment to its ABL facility that would extend its term until 2029. Post-transaction, the company's net debt leverage ratio is expected to be less than 2x, based on the previous 12 months of adjusted EBITDA. Also, MRC Global ( MRC ) issued guidance for Q3 revenues of $797M, roughly in line with $798M analyst consensus; adjusted EBITDA of $48M; and cash flow from operations of $95M. The company will release full Q3 results on November 5. Recomme
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MRC
News
- Some Investors May Be Willing To Look Past MRC Global's (NYSE:MRC) Soft Earnings [Yahoo! Finance]Yahoo! Finance
- MRC Global Announces Closing of $750 Million Asset-Based Loan FacilityGlobeNewswire
- Investing in MRC (MRC)? Don't Miss Assessing Its International Revenue Trends [Yahoo! Finance]Yahoo! Finance
- Earnings Beat: MRC Global Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models [Yahoo! Finance]Yahoo! Finance
- MRC Global Inc. (NYSE: MRC) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating.MarketBeat
MRC
Earnings
- 11/5/24 - Beat
MRC
Sec Filings
- 11/20/24 - Form 8-K
- 11/15/24 - Form 144
- 11/13/24 - Form 8-K
- MRC's page on the SEC website