We advised Murphy on the high-yield notes offering

Davis Polk advised Murphy USA Inc. in connection with a Rule 144A / Regulation S offering of $500 million aggregate principal amount of 5.875% senior notes due 2034. The notes were issued by Murphy USA’s wholly owned subsidiary, Murphy Oil USA, Inc., and are guaranteed by Murphy USA and by certain of Murphy USA’s domestic subsidiaries. 

Murphy USA intends to use the net proceeds from the offering to redeem all of its existing 5.625% senior notes due 2027, to repay outstanding borrowings under its revolving credit facility and for general corporate purposes.

Based in El Dorado, Arkansas, Murphy USA is a leading retailer of gasoline and convenience merchandise with more than 1,800 retail stores located primarily in the Southwest, Southeast and Midwest United States. The company and its team of nearly 17,000 employees serve customers each day through its network of retail gasoline stations in 27 states

The Davis Polk capital markets team included partner Joseph A. Hall, counsel John H. Runne and associates David J. Kilduff, Muxuan (Muriel) Wang and Madeline Y. Owens. Counsel Dustin Plotnick and associate Nancy B. Regan provided tax advice. Associate Saloni Pant provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.

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