Marathon Oil to redeem $300 million 5.125% senior notes due 2024

By Rebecca Melvin

Concord, N.H., May 19 – Marathon Oil Corp. announced that it plans to redeem its outstanding $300 million 5.125% senior notes due April 1, 2024, according to a news release.

The redemption will include the portion of notes for which Andeavor LLC, a wholly owned subsidiary of Marathon, is obligor. The portion of notes issued by Marathon Oil is expected to be redeemed on June 18, and the portion for which Andeavor is obligor is expected to be redeemed on June 1.

Marathon will pay 100.854% of the principal amount plus accrued and unpaid interest.

The redemption is part of the company’s previously announced plans to reduce its long-term structural debt.

The energy company is based in Houston.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.