Exxon raises $9.5 billion to load up on cash while debt market still open to new deals | Reuters


Exxon Mobil Corp on Monday raised $9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals.

Exxon paid a lower price to borrow than it did in a similar debt deal almost four weeks ago, a sign of how investor confidence is gradually returning after a rout in energy prices and a stock market collapse fueled by the coronavirus outbreak.

Nevertheless, borrowing costs for Exxon were still higher than prior to the coronavirus outbreak.

Source: Exxon raises $9.5 billion to load up on cash while debt market still open to new deals – Reuters

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