Murphy Oil Corporation (MUR)

[johnsyn]

Murphy Oil Sells Notes in Three Maturities Totaling $1.5 Billion

9:46 AM 11/30/2012 - Business Wire

EL DORADO, Ark.--(BUSINESS WIRE)--Nov. 30, 2012-- Murphy Oil Corporation (NYSE:MUR) announced today that it has closed on the sale of three tranches of senior unsecured notes. The first tranche of $550 million of 2.500% coupon notes will mature on December 1, 2017; the second tranche of $600 million of 3.700% coupon notes will mature on December 1, 2022; and the third tranche of $350 million of 5.125% coupon notes will mature on December 1, 2042. Interest is payable semi-annually on June 1 and December 1, commencing June 1, 2013 for all three tranches.

Proceeds of the issue are expected to be used to fund Murphy’s previously announced special dividend of $2.50 per share and to fund repurchases pursuant to a share buyback program in an aggregate amount up to $1 billion and for general corporate purposes.

J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC were Joint Book-Running Managers. Citigroup Global Markets Inc., DNB Markets, Inc. and Mitsubishi UFJ Securities (USA), Inc. were Senior Co-Managers. Capital One Southcoast, Inc., Comerica Securities, Inc., Fifth Third Securities, Inc., Morgan Keegan & Company, Inc., Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc. were Co-Managers.

The notes were offered solely by means of a prospectus supplement and accompanying prospectus relating to an effective registration statement under the Securities Act of 1933, as amended.

This news release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.