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Murphy USA Unit Plans $500 Million Private Offering of Senior Notes

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Murphy USA (MUSA) said Tuesday its Murphy Oil USA subsidiary plans a private offering of $500 million aggregate principal amount of senior notes due 2034.

The notes will be guaranteed on a senior unsecured basis by Murphy USA and some of its domestic subsidiaries, the company said.

The company said it plans to use net proceeds from the offering to redeem $300 million aggregate principal amount of the issuer's existing 5.625% senior notes due 2027, repay all or part of the outstanding borrowings under its revolving credit facility, and for general corporate purposes.

Shares of Murphy USA were down about 2% in Tuesday trading.

Price: $566.50, Change: $-11.45, Percent Change: -1.98%

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