Murphy USA $1.35 billion financing
We advised the borrower on the credit facilities
Davis Polk advised Murphy USA Inc. in connection with a $600 million term loan credit facility and a $750 million revolving credit facility.
Murphy USA intends to use the net proceeds from a notes offering and the new credit facilities to repay and/or refinance its existing credit facilities and for general corporate purposes.
Based in El Dorado, Arkansas, Murphy USA is a leading retailer of gasoline and convenience merchandise, with more than 1,500 stations located primarily in the Southwest, Southeast and Midwest United States. The company and its team of nearly 10,000 employees serve an estimated 1.7 million customers each day through its network of retail gasoline stations in 25 states.
The Davis Polk finance team included partner Sanders Witkow and associates Matthew Vallade and Reem Z. Ali. Counsel Will Schisa and associate Patrick Q. Sullivan provided sanctions advice. Members of the Davis Polk team are based in the New York and Washington DC offices.