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MRC Global ( (MRC) ) has provided an update.
MRC Global Inc. has secured a $350 million Term Loan B and repurchased its 6.50% Series A Convertible Preferred Stock for $361 million, simplifying its capital structure. The loan matures in 2031 and is expected to enhance cash generation and earnings per share by 2025. This strategic move eliminates potential equity dilution from preferred shares conversion, leveraging favorable credit market conditions.
For a thorough assessment of MRC stock, go to TipRanks’ Stock Analysis page.