Murphy Oil Corporation Announces Pricing of $550 Million of 6.375% Senior Notes Due 2028
March 02 2021 - 5:59PM
Business Wire
Murphy Oil Corporation (the “Company”) (NYSE: MUR) announced
today that it has priced an offering of $550 million of 6.375%
Senior Notes due 2028 pursuant to an effective shelf registration
statement previously filed with the Securities and Exchange
Commission (“SEC”).
The Company expects to close the offering on March 5, 2021,
subject to customary closing conditions, and expects to use the net
proceeds from the offering, together with cash on hand, borrowings
under its revolving credit facility or a combination thereof, to
fund the full redemption of its outstanding 4.000% Senior Notes due
2022 and 3.700% Senior Notes due 2022 (together, the “Existing
Notes”) and to pay any related premiums, fees and expenses in
connection with the foregoing.
BofA Securities, J.P. Morgan and MUFG are acting as physical
joint book-running managers for the offering. The offering is being
made under an automatic shelf registration statement on Form S-3
(Registration No. 333-227875) filed by the Company with the SEC and
only by means of a prospectus supplement and accompanying
prospectus. An investor may obtain free copies of the prospectus
supplement and accompanying prospectus related to the offering by
visiting EDGAR on the SEC website, www.sec.gov, or by
contacting:
BofA Securities NC1-004-03-43 200 North
College Street, 3rd Floor, Charlotte, NC 28255 Attn: Prospectus
Department Email: dg.prospectus_requests@bofa.com Telephone: (800)
294-1322
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any jurisdiction
in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of
any such jurisdiction. In addition, this news release does not
constitute a notice of redemption of the Existing Notes.
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production
company, Murphy Oil Corporation believes in providing energy that
empowers people by doing right always, staying with it and thinking
beyond possible. It challenges the norm, taps into its strong
legacy and uses its foresight and financial discipline to deliver
inspired energy solutions. Murphy sees a future where it is an
industry leader who is positively impacting lives for the next 100
years and beyond.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are generally identified through the
inclusion of words such as “aim”, “anticipate”, “believe”, “drive”,
“estimate”, “expect”, “expressed confidence”, “forecast”, “future”,
“goal”, “guidance”, “intend”, “may”, “objective”, “outlook”,
“plan”, “position”, “potential”, “project”, “seek”, “should”,
“strategy”, “target”, “will” or variations of such words and other
similar expressions. These statements, which express management’s
current views concerning future events or results, are subject to
inherent risks and uncertainties. Factors that could cause one or
more of these future events or results not to occur as implied by
any forward-looking statement include, but are not limited to:
macro conditions in the oil and natural gas industry, including
supply/demand levels, actions taken by major oil exporters and the
resulting impacts on commodity prices; increased volatility or
deterioration in the success rate of our exploration programs or in
our ability to maintain production rates and replace reserves;
reduced customer demand for our products due to environmental,
regulatory, technological or other reasons; adverse foreign
exchange movements; political and regulatory instability in the
markets where the Company does business; the impact on our
operations or market of health pandemics such as COVID-19 and
related government responses; other natural hazards impacting our
operations or markets; any other deterioration in our business,
markets or prospects; any failure to obtain necessary regulatory
approvals; any inability to service or refinance our outstanding
debt or to access debt markets at acceptable prices; or adverse
developments in the US or global capital markets, credit markets or
economies in general. For further discussion of factors that could
cause one or more of these future events or results not to occur as
implied by any forward-looking statement, see “Risk Factors” in our
most recent Annual Report on Form 10-K filed with the SEC and any
subsequent Quarterly Report on Form 10-Q or Current Report on Form
8-K that the Company files, available from the SEC’s website and
from Murphy Oil Corporation’s website at
http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no
duty to publicly update or revise any forward-looking
statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210302006180/en/
Investor Contacts: Kelly Whitley,
kelly_whitley@murphyoilcorp.com, 281-675-9107 Megan Larson,
megan_larson@murphyoilcorp.com, 281-675-9470
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