Marathon Oil Corp. (MRO) has shared an announcement.
Marathon Oil Corporation has successfully reached an underwriting agreement to offer $1.2 billion in Senior Notes, divided equally between 5.300% notes due in 2029 and 5.700% notes due in 2034. The proceeds from this offering will be utilized to repay the company’s existing term loan facility, leveraging its automatic shelf registration statement effective since early 2023. This financial move is part of the company’s broader strategy to manage its debt profile, with the underwriting facilitated by prominent financial institutions that also provide a variety of other services to the company.
See more insights into MRO stock on TipRanks’ Stock Analysis page.