Murphy USA Inc. announced a private offering of $500 million senior notes due 2034 by subsidiary Murphy Oil USA, Inc., to redeem $300 million 2027 notes, repay revolver borrowings, and for general corporate purposes.
Key takeaways
Private offering of $500 million aggregate principal senior notes due 2034 by Murphy Oil USA, Inc., guaranteed by Murphy USA and certain domestic subsidiaries.
Net proceeds to redeem all $300 million 5.625% senior notes due 2027, repay revolving credit facility borrowings, pay related fees, and general corporate purposes.
Notes offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S, not registered under Securities Act.
Intends to issue notice of full redemption for 2027 Notes upon pricing, subject to completion uncertainties.