Murphy Oil Corporation Secures $600 Million Senior Notes in 2024
Murphy Oil Corporation Announces Senior Notes Offering
Murphy Oil Corporation (the “Company”) (NYSE: MUR) has announced its recent pricing for an offering of $600 million in 6.000% Senior Notes due in 2032. This offering is made possible through an effective shelf registration statement that has been submitted to the Securities and Exchange Commission.
Purpose of the Offering
The proceeds from this offering are expected to be utilized to fund previous cash tender offers aimed at purchasing up to $600 million of its outstanding Senior Notes. This includes notes with varying maturities, specifically the 5.875% Senior Notes due in 2027, 6.375% Senior Notes due in 2028, and 7.050% Senior Notes due in 2029. Alongside these purchases, the funds will cover any relevant premiums, fees, and associated costs.
Management of the Offering
J.P. Morgan Securities LLC, BofA Securities, Inc., and MUFG Securities Americas Inc. are leading the offering as joint book-running managers. The transaction is being realized under the provisions of an automatic shelf registration statement filed with the SEC, and investor information can be accessed through the prospectus supplement and surrounding documentation.
Contact Information
Those seeking more details about the offering may reach out to:
J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: 1-866-803-9204
Company Overview
As an independent entity, Murphy Oil Corporation is focused on the exploration and production of oil and natural gas. The Company aims to provide energy solutions that empower individuals while adhering to ethical practices. Murphy strives to be an industry leader, emphasizing sustainability and thoughtful energy solutions to positively affect lives for generations to come.
Additional Information on Market Conditions
In light of the current market environment, Murphy Oil Corporation is attuned to various factors that could impact its performance and future operations. These elements range from geopolitical issues to supply and demand dynamics in the oil and gas industry. The management team is committed to navigating these challenges with transparency and strategic foresight.
Frequently Asked Questions
What is the purpose of the $600 million offering?
The offering aims to fund cash tender offers for existing senior notes and cover associated costs.
When will the offering close?
While the offering date is not explicitly mentioned, it is subject to customary closing conditions.
Who is managing the offering?
J.P. Morgan Securities LLC, BofA Securities, and MUFG Securities Americas Inc. are joint book-running managers for the offering.
What does Murphy Oil Corporation focus on?
The Company emphasizes independent oil and natural gas exploration and production, striving for positive impacts on communities.
How does Murphy Oil plan to address market challenges?
The management is diligent in monitoring geopolitical and market conditions to adapt strategies as necessary.
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