MRC Global Inc. and certain members of its global family of companies (collectively, “MRC Group”) entered into a second amended and restated loan, security and guarantee agreement. The amended and restated senior secured global asset based revolving credit facilities totalled an aggregate amount of US$1.05 billion and were made available by a syndicate of Lenders in the United States, Canada, UK, Australia, Netherlands, Belgium and Norway (including flex facilities to be available in Singapore and New Zealand). Bank of America, N.A., acted as administrative agent, security trustee and collateral agent.
The MRC Group is one of the largest global distributors of pipe, valves and fittings (and related products and services) to the energy industry. The MRC Group operates from more than 250 branches world-wide.
Bank of America, N.A. was represented in Canada, Netherlands, Australia, Singapore and the UK by Norton Rose Fulbright, with a lead team comprised in Canada of David Amato and Serge Levy (BofA's foreign co-ordinators) and Matthew Lippa, in the United Kingdom by Michael Black and Alex Dunn, in the Netherlands by Gijs van Leeuwen and Gino Bell and in Australia by Chris Redden. Bank of America was also represented in Belgium by Lydian, in Norway by BA-HR and in the US by Vinson & Elkins LLP, with a team including James Markus, Tim Johnston and Farah Paliwala.
The Borrowers were represented in the US and UK by Fried, Frank, Harris, Shriver & Jacobson LLP, with a team consisting of William Reindel, Jeffrey Filipink, Jons Lehmann, and Joy Onikoyi, and in Canada by McCarthy Tétrault LLP, with a team including Peter Birkness and James-Scott Lee. Loyens & Loeff N.V. acted as Belgian and Dutch counsel to the Borrowers, Schjødt acted as Norwegian counsel to the Borrowers and Minter Ellison acted as Australian counsel to the Borrowers.