Murphy Oil closes $600M 6.000% notes due 2032; proceeds to fund tender offers for higher-coupon debt

MURPHY OIL CORP

Issued $600M of 6.000% senior notes due October 1, 2032.
Interest payable semi-annually on April 1 and October 1, starting April 1, 2025.
Net proceeds plus cash to fund tender offers for up to $600M of outstanding 5.875%, 6.375%, and 7.050% notes due 2027-2029.
Notes are senior unsecured; indenture contains usual restrictive covenants.
Offering closed October 3, 2024; underwritten by J.P. Morgan Securities LLC.

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