HOUSTON, Sept. 3, 2019 /PRNewswire/
-- Marathon Oil Corporation (NYSE: MRO) announced today
that it sent an irrevocable notice of early redemption to the
holders of the Company's $600 million
2.7% Senior Notes Due 2020 (the "Notes").
Pursuant to the Indenture, dated as of February 26, 2002 (the "Indenture"), and the
Notes, the early redemption date is set to October 3, 2019
(the "Redemption Date").
In accordance with the terms and conditions set forth in the
Indenture and the Notes, the Notes will be redeemed at a redemption
price equal to the greater of (i) 100% of the principal amount of
the Notes to be redeemed or (ii) the sum of the present values of
the remaining scheduled payments of principal and interest on the
Notes to be redeemed (exclusive of interest accrued to the date of
redemption) discounted to the date of redemption on a semiannual
basis (assuming a 360-day year consisting of twelve 30-day months)
at the then current Treasury Rate (as defined in the Notes) plus 20
basis points, plus, in either case, accrued but unpaid interest on
the principal amount being redeemed to the Redemption Date.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
Forward-looking Statements
This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements, other than
statements of historical fact, including statements regarding the
early redemption, are forward-looking statements. While the Company
believes that its assumptions concerning future events are
reasonable, a number of factors could cause results to differ
materially including our ability to complete the early redemption
as well as risk factors, forward-looking statements and challenges
and uncertainties described in the Company's 2018 Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and other
public filings and press releases, available at
www.marathonoil.com. Except as required by law, the Company
undertakes no obligation to revise or update any forward-looking
statements as a result of new information, future events or
otherwise.
Media Relations Contact:
Katie
Altshuler: 405-365-8948
Investor Relations Contacts:
Guy Baber: 713-296-1892
John Reid: 713-296-4380
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SOURCE Marathon Oil Corporation