Bond Factsheet
MUR 6.375% 15Jul2028 Corp (USD)
Murphy Oil Corporation
Indicative
Full Lot
Bid Price 101.469
Change in Bid Price
-
Bid Yield (%) 3.015 %
Change in Bid Yield 0.020
Ask Price 101.719
Change in Ask Price
-
Ask Yield (%) 2.456 %
Change in Ask Yield 0.024
Indicative price as of 03 Feb 2026, 12:00am
Bond Issuer
Murphy Oil Corporation
Guarantor
-
Announcement Date
02 Mar 2021
Issue Date
05 Mar 2021
Maturity Date
15 Jul 2028
Years to Maturity / Next Call
1.784 / 0.083
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
6.375
Coupon Type
Fixed
Annual Coupon Rate
6.375
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Reference Rate
-
ISIN
US626717AN25
CUSIP
626717AN2
Bond Currency
USD
Total Issue Size
550,000,000
Outstanding Issue Size
148,590,000
Min. Investment Quantity (Nominal)
USD 2,000
Incremental Quantity (Nominal)
USD 1,000
Bond Type
High Yield Corporate
Bond Sector
Energy
Bond Sub Sector
Oil, Gas and Consumable Fuels
Issuer Credit Rating (S&P/ Fitch)
***/ BB+
Bond Credit Rating (S&P/ Fitch)
***/ BB+
Shariah Compliant
No
Exchange Listed
Others
Issuer Call
| Period | Redemption price |
|---|---|
| 2024 | 103.188% |
| 2025 | 101.594% |
| 2026 and thereafter | 100.000% |
Make Whole Call
If the notes are redeemed at any time prior to July 15, 2024, the notes may be redeemed by us, in whole or in part, at our option, at a redemption price equal to the greater of:
•100% of the principal amount of notes to be redeemed; or
•the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed (not including any portion of such payments of interest accrued and unpaid to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate plus 50 basis points,
plus, in either case, accrued and unpaid interest on the principal amount of the notes being redeemed to, but not including, the redemption date.
Change Control Put
Upon the occurrence of a change of control triggering event with respect to the notes, unless the Company has exercised its right to redeem all of the notes as described under “—Optional Redemption,” each holder of the notes will have the right to require the Company to purchase all or a portion of such holder’s notes pursuant to the offer described below (the “change of control offer”), at a purchase price in cash (the “change of control payment”) equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase, provided that any payment of interest becoming due on or prior to the change of control payment date (as defined below) shall be payable to the holders of such notes registered as such on the relevant record date.
“Change of control” means the occurrence of any of the following:
(1) the consummation of any transaction or series of related transactions (including, without limitation, any merger or consolidation) the result of which is that any “person” (for purposes of this definition, as that term is used in Section 13(d)(3) of the Exchange Act),other than the Company, any of its subsidiaries, any of the Murphy family or any employee benefit plan of the Company or any of its subsidiaries (each such person, an “excluded party”), becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the combined voting power of the Company’s voting stock or other voting stock into which the Company’s voting stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; provided that the consummation of any such transaction will not be considered to be a change of control if (a) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and (b) immediately following such transaction, (x) the direct or indirect holders of the voting stock of the holding company are substantially the same as the holders of our voting stock immediately prior to such transaction or (y) no person (other than the excluded parties) is the beneficial owner, directly or indirectly, of more than 50% of the voting stock of such holding company;
(2) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding voting stock or the voting stock of such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Company’s voting stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the voting stock of the surviving person or any direct or indirect parent company of the surviving person, measured by voting power rather than number of shares, immediately after giving effect to such transaction; or
(3) the adoption by the board of directors of the Company of a plan relating to the Company’s liquidation or dissolution.
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