Murphy Oil launches cash tender offers for up to $250M of senior notes due 2027-2029

MURPHY OIL CORP

Tenders for 5.875% notes due 2027 (CUSIP 626717 AM4), 6.375% notes due 2028 (626717 AN2), 7.050% notes due 2029 (626717 AA0).
Maximum aggregate purchase of $250M; 2027 notes subject to $50M subcap and proration across priority levels.
Early tender date Nov 17, 2023 (5 PM NY) for $50/1,000 early premium; expiration Dec 5, 2023.
Consideration per $1,000: 2027 notes $995 (including early premium), 2028 & 2029 notes $1,000.
Funding from cash on hand; J.P. Morgan Securities as dealer manager; goal to reduce debt and interest expense.

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