New Issue - Murphy Oil sells $1.5 bln in 3 parts

Wed Nov 28, 2012 11:08am EST

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Nov 28 (Reuters) - Murphy Oil Corp on Tuesday sold
$1.5 billion of notes in three parts, said IFR, a Thomson
Reuters service. 
    Bank of America Merrill Lynch and J.P Morgan were the joint
active bookrunning managers for the sale.

BORROWER: MURPHY OIL 

TRANCHE 1
AMT $550 MLN     COUPON 2.5 PCT     MATURITY    12/01/2017  
TYPE NTS         ISS PRICE 99.986   FIRST PAY   06/01/2013 
MOODY'S Baa3     YIELD 2.503 PCT    SETTLEMENT  11/30/2012   
S&P TRIPLE-B     SPREAD 185 BPS     PAY FREQ    SEMI-ANNUAL
FITCH BBB-MINUS   MORE THAN TREAS   MAKE-WHOLE CALL 30 BPS
    
TRANCHE 2
AMT $600 MLN     COUPON 3.7 PCT     MATURITY    12/01/2022   
TYPE NTS         ISS PRICE 99.594   FIRST PAY   06/01/2013 
MOODY'S Baa3     YIELD 3.749 PCT    SETTLEMENT  11/30/2012   
S&P TRIPLE-B     SPREAD 210 BPS     PAY FREQ    SEMI-ANNUAL
FITCH BBB-MINUS   MORE THAN TREAS   MAKE-WHOLE CALL 35 BPS
    
TRANCHE 3
AMT $350 MLN     COUPON 5.125 PCT   MATURITY    12/01/2042   
TYPE NTS         ISS PRICE 99.741   FIRST PAY   06/01/2013 
MOODY'S Baa3     YIELD 5.142        SETTLEMENT  11/30/2012   
S&P TRIPLE-B     SPREAD 235 BPS     PAY FREQ    SEMI-ANNUAL
FITCH BBB-MINUS   MORE THAN TREAS    MAKE-WHOLE CALL 35 BPS
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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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