(RTTNews) - Murphy Oil Corp. (MUR), an oil and gas exploration and production company, Thursday said it plans to offer $500 million of Senior Notes due 2034.
The company intends to use the net proceeds from the offering to fully redeem its 5.875 percent notes due 2027 and its 6.375 percent notes due 2028 together with the payment of related premiums, fees and expenses, to repay its outstanding borrowing under its revolving credit facility, to cover transaction related fees and expenses and the remainder for general corporate purposes.
In pre-market activity, MUR shares were trading at $29.50, down 1.40% on the New York Stock exchange.
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