Murphy Oil to offer $600M senior notes due 2032; launches tender offers for up to $600M of outstanding notes

MURPHY OIL CORP

Offering $600M of Senior Notes due 2032 via shelf registration; proceeds to fund tender offers and pay fees.
Tender offers for 5.875% 2027, 6.375% 2028 and 7.050% 2029 notes, up to $600M aggregate principal.
Early tender premium $50/$1,000; early tender date Oct 2, 2024; expiration Oct 18, 2024; settlement expected Oct 23, 2024.
Negotiating to extend revolver maturity to 2029 and increase commitments from $800M to $1.2B, contingent on offering and tender completion.
Tender offers conditioned on successful completion of debt financing raising at least $600M gross proceeds.

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