debt
confidence high
sentiment positive
materiality 0.70
Murphy Oil offers $500M in senior notes due 2034 to refinance higher-coupon debt
MURPHY OIL CORP
- Offering of $500M aggregate principal of senior notes due 2034; BofA Securities is book-running manager.
- Proceeds to fund full redemption of 5.875% notes due 2027 and 6.375% notes due 2028.
- Will also repay outstanding revolver borrowings and cover transaction fees and general corporate purposes.
- Redemptions conditioned on successful completion of offering; no assurance of completion.