Marathon Oil redeems all $900 million 3.85% senior notes due 2025

By Marisa Wong

Los Angeles, Sept. 7 – Marathon Oil Corp. fully redeemed its $900 million aggregate principal amount of 3.85% senior notes due 2025, according to a news release.

The company said the redemption accelerates the realization of its previously disclosed gross debt objective of roughly $4 billion.

This transaction brings total 2021 gross debt reduction to $1.4 billion and will contribute to about $50 million of annualized cash interest expense savings.

The energy company is based in Houston.

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