Exxon Mobil (XOM), the US’s largest oil producer, has now raised $9.5 billion in new debt by selling five different bonds with durations of five years to 31 years. In a sign of strong investor demand, XOM raised $9.5 billion instead of the $9 billion originally intended.Moreover, the company paid a lower price to borrow than it did in the $8.5 billion March deal. For instance, it now priced a 10.5-year bond worth $2 billion at a 185 basis-point premium to U.S. Treasuries with a 2.61% yield, whereas in March, Exxon sold $2 billion in debt with a 10-year duration …read more
Source:: Yahoo Finance
