MRC Global Agrees To Repurchase Preferred Stock, Launches $350M Term Loan B Financing To Fund Repurchase
Portfolio Pulse from Benzinga Newsdesk
MRC Global has agreed to repurchase all 363,000 shares of its 6.50% Series A Convertible Perpetual Preferred Stock from Mario Investments, LLC. To fund this repurchase, MRC Global is launching a $350 million Term Loan B financing with a seven-year term.
October 15, 2024 | 11:21 am
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MRC Global is repurchasing its preferred stock from Mario Investments, LLC, funded by a $350 million Term Loan B financing. This move could impact the company's financial structure and stock price.
The repurchase of preferred stock and the associated financing could affect MRC Global's financial structure, potentially impacting its stock price. However, the exact impact on the stock price is uncertain, leading to a neutral short-term score.
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