Murphy Oil Corporation announced today the commencement of cash tender offers to purchase up to $600 million aggregate principal amount of its outstanding senior notes, including 5.875% Senior Notes due 2027, 7.050% Senior Notes due 2029, and 6.375% Senior Notes due 2028.
Concurrently, the company priced an offering of $600 million of 6.000% Senior Notes due 2032. The net proceeds from this new offering, combined with cash on hand, are intended to fund the tender offers and cover associated premiums, fees, and expenses.
This strategic financial move aims to enhance Murphy Oil's debt maturity profile. The tender offers are conditioned upon the successful completion of debt financing transactions raising at least $600 million, which the new note offering is expected to satisfy.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.