Davis Polk advised the administrative agent, joint lead arranger and joint bookrunner in connection with the refinancing of MRC Global (US) Inc.’s existing senior secured term loan credit facility with a new senior secured term loan facility, including $400 million in term loans. The company and its parent, MRC Global, will use the proceeds to repay existing term loans and for general corporate purposes.

Based in Houston, Texas, MRC Global is the largest global industrial distributor of pipes, valves and fittings (PVF) and related products and services to the energy industry based on sales, and holds the leading position in its industry across each of the upstream, midstream and downstream sectors. MRC Global offers more than 150,000 stock keeping units, including an extensive array of PVF, oilfield supply, automation, instrumentation and other general and specialty industry supply products. Through its North American and international segments, MRC Global services more than 12,000 active customers through over 410 service locations throughout North America, Europe, Asia and Australia.

The Davis Polk finance team included partner James A. Florack and associates Jonathan B. Brown and Doug Howell. The tax team included partner Michael Farber and associates Isaac MacDonald and Liang Zhang. The real estate team included counsel Susan D. Kennedy and associate Cameron W. Ormsby. All members of the Davis Polk team are based in the New York office.

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