Murphy Oil Corporation - Tender Offer - Launch

Murphy Oil Corporation Announces Cash Tender Offers for Outstanding Debt Securities - US626717AM42 - US626717AA04 - US626717AN25 - US626717AM42

03 NOVEMBER 2023

Full announcement including disclaimers and offer restrictions available via Source: Murphy Oil

"HOUSTON--(BUSINESS WIRE)--Nov. 3, 2023-- Murphy Oil Corporation (NYSE: MUR) (“Murphy” or the “Company”) announced today the commencement of a series of tender offers to purchase for cash up to $250,000,000 aggregate principal amount (the “Maximum Aggregate Cap”) certain of its outstanding series of senior notes listed in the table below (collectively, the “Notes”)."

(1) The maximum subcap applicable to the 5.875% Senior Notes due 2027 (the “2027 Notes”) of $50,000,000 (the “2027 Maximum SubCap”) represents the maximum aggregate principal amount in respect of the 2027 Notes that may be purchased at Acceptance Priority Level “1”. Acceptance for tenders of 2027 Notes may be subject to proration at Acceptance Priority Level “1” if the aggregate principal amount of 2027 Notes validly tendered would result in the aggregate principal amount of 2027 Notes exceeding the 2027 Maximum SubCap. In the event 2027 Notes are validly tendered and accepted for purchase at both Acceptance Priority Level “1” and Acceptance Priority Level “4” and the aggregate principal amount of Notes validly tendered in the Tender Offers exceeds the Maximum Aggregate Cap, acceptance for tenders of 2027 Notes may be subject to proration such that the aggregate principal amount of Notes that are accepted for purchase in the Tender Offers comes nearest to, but does not exceed, the Maximum Aggregate Cap.

(2) Subject to the Maximum Aggregate Cap and proration if applicable, the principal amount of Notes that is purchased in each tender offer will be determined in accordance with the applicable acceptance priority level (in numerical priority order) specified in this column; provided that the Company will not accept 2027 Notes at Acceptance Priority Level “1” in an aggregate principal amount that exceeds the 2027 Maximum SubCap. In the event 2027 Notes are validly tendered and accepted for purchase at both Acceptance Priority Level “1” and Acceptance Priority Level “4” and the aggregate principal amount of Notes validly tendered in the Tender Offers exceeds the Maximum Aggregate Cap, acceptance for tenders of 2027 Notes may be subject to proration such that the aggregate principal amount of Notes that are accepted for purchase in the Tender Offers comes nearest to, but does not exceed, the Maximum Aggregate Cap.

(3) Does not include accrued and unpaid interest on the Notes, which will also be payable as provided herein.

(4) Includes the Early Tender Premium (as defined herein).

...