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Murphy Oil guiding $550 million eight-year senior notes at 5¾%; pricing Friday
By Paul A. Harris
Portland, Ore., Aug. 4 – Murphy Oil Corp. plans to price a $550 million offering of eight-year senior notes on Friday, according to a market source.
The deal is being guided at 5¾%, the source added.
J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint physical bookrunners for the public offering.
BNP Paribas Securities Corp., DNB Markets, Scotia Capital, MUFG, Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the joint bookrunners.
Regions Securities LLC and Capital One Securities are the co-managers.
The notes feature a make-whole call at Treasuries plus 50 basis points for the first three years, then become callable at a premium.
The El Dorado, Ariz.-based independent oil and natural gas exploration and production company plans to use the proceeds to redeem its 2½% notes due December 2017.
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