Murphy Oil markets $500 million of 10-year guaranteed senior notes to fund tender offer

By Cristal Cody

Tupelo, Miss., Sept. 4 – Murphy Oil USA Inc. (Ba1/BB+) plans to price $500 million of guaranteed senior notes due 2029, according to a news release and a 424B5 filing with the Securities and Exchange Commission on Wednesday.

J.P. Morgan Securities LLC, RBC Capital Markets, LLC and Stephens Inc. are the bookrunners.

Senior co-managers are BofA Securities, Inc., Fifth Third Securities, Inc., Regions Securities LLC and Wells Fargo Securities LLC.

Co-managers are BB&T Capital Markets LLC, PNC Capital Markets LLC, UMB Financial Services, Inc. and Hancock Investments Services, Inc.

The notes will be guaranteed by parent company Murphy USA Inc. and certain domestic subsidiaries.

The issue will have make-whole call and par calls.

Proceeds will be used to fund the company’s tender offer of $500 million of outstanding 6% senior notes due 2023.

Murphy Oil USA is an El Dorado, Ark.-based petroleum and natural gas exploration and production company.

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