Murphy Oil Announces $600M Senior Notes Offering

By Tamara Parker • Thursday, September 19 08:03 • Permanent Link

Murphy Oil Corporation (NYSE: MUR) has announced its intention to offer $600 million of senior notes due 2032. The company plans to utilize the net proceeds, along with cash on hand, to fund cash tender offers to purchase up to $600 million aggregate principal amount of its outstanding 5.875% senior notes due 2027, 6.375% senior notes due 2028, and 7.050% senior notes due 2029.

J.P. Morgan Securities LLC, BofA Securities, Inc., and MUFG Securities Americas Inc. are acting as physical joint book-running managers for the offering.

As an independent oil and natural gas exploration and production company, Murphy Oil Corporation is committed to providing energy that empowers people, challenging the norm, and using its foresight and financial discipline to deliver inspired energy solutions.

The company's latest financial move signifies a strategic effort to manage its outstanding debt and optimize its financial position in the market. The market has reacted to these announcements by moving the company's shares -0.2% to a price of $35.3. If you want to know more, read the company's complete 8-K report here.

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