UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Event |
On April 24, 2023, MRC Global Inc. (the “Company”) issued a press release announcing that it is launching an effort to refinance in full the Company’s $295 million in outstanding principal amount under its existing senior secured term loan B, scheduled to mature in November 2024. As part of this effort, the Company will seek to enter into a new, five-year $300 million senior secured term loan B (the “New Term Loan”). The Company expects to use proceeds of the New Term Loan to repay in full all indebtedness outstanding under the existing term loan.
Although the Company is seeking to enter into a New Term Loan, there can be no assurance that the Company will actually enter into a New Term Loan, or what the ultimate terms will be. The Company’s ability to enter into the New Term Loan and use the proceeds thereof depends on, among other things, market conditions, reaching final agreement with lenders and the approval of the Company’s board of directors.
The press release also includes certain limited metrics regarding the Company’s preliminary First Quarter 2023 Financial Results. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 99.1 | Press release of MRC Global Inc. dated April 24, 2023 | |
| 104 | Cover Page Interactive Data File – The cover page XBRL tags from this Current Report on Form 8-K are imbedded within the Inline XBRL document | |
INDEX TO EXHIBITS
| Exhibit No. |
Description | |
| 99.1 | Press release dated April 24, 2023 | |
| 104 | Cover Page Interactive Data File – The cover page XBRL tags from this Current Report on Form 8-K are imbedded within the Inline XBRL document | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 24, 2023
| MRC GLOBAL INC. | ||
| By: | /s/ Kelly Youngblood | |
| Kelly Youngblood | ||
| Executive Vice President and Chief Financial Officer | ||