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Murphy Oil sets April 4 as redemption date for 4% notes, 3.7% notes
By Wendy Van Sickle
Columbus, Ohio, March 5 – Murphy Oil Corp. set April 4 as the date it plans to fully redeem its outstanding $259,291,000 of 4% senior notes due 2022 and $317,067,000 of 3.7% senior notes due 2022, according to an 8-K filing with the Securities and Exchange Commission.
The notes will be redeemed at a make-whole price plus any accrued interest using proceeds from Murphy’s new issuance of $550 million of 6 3/8% senior notes due 2028, cash on hand and/or borrowings under its revolving credit facility.
Murphy Oil is an El Dorado, Ark.-based oil and gas exploration and production company.
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