Murphy Oil announces $550 million offering of senior notes due 2025

By Paul A. Harris

Portland, Ore., Aug. 3 – Murphy Oil Corp. announced in a Thursday press release that it intends to offer $550 million of senior notes due 2025, subject to market conditions.

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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