Murphy USA to pay down credit facilities with portion of note proceeds

By Wendy Van Sickle

Columbus, Ohio, April 20 – Murphy USA Inc. plans to use some proceeds from an offering of 10-year senior notes to pay down its senior secured credit facilities, according to a press release.

The company said it plans to use the first $250 million of proceeds from the $300 million offering for general corporate purposes and apply the rest toward paying down the credit facilities.

The notes will be issued by subsidiary Murphy Oil USA, Inc.

J.P. Morgan Securities LLC and Stephens Inc. are the joint bookrunning managers for the offering.

Murphy USA is a gas station and convenience store chain based in El Dorado, Ark.

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