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Murphy Oil to Offer $550M in Senior Notes

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Murphy Oil Corp. of Houston, formerly of El Dorado, has announced plans to offer $550 million in debt through senior notes due in 2028.

The company said Tuesday that it plans to use the proceeds, together with cash on hand, to fund the full redemption of outstanding 4% and 3.7% senior notes due next year.

BofA Securities of Charlotte, North Carolina, and Mitsubishi UFJ Financial Group of Tokyo are jointly managing the offering as book runners, and the offering is being made under an automatic shelf registration statement on a Form S-3 filing with the Securities & Exchange Commission.

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