Murphy USA Secures $1.35 Billion Credit Refinancing to Boost Liquidity

Murphy USA Inc. (NYSE: MUSA) announced it has entered into a new $1.35 billion refinancing agreement to replace its existing credit facility, providing enhanced financial flexibility and extended maturity terms.

Under the agreement signed on April 7, 2025, Murphy USA and its subsidiary Murphy Oil USA secured a $600 million term loan and a $750 million revolving credit facility. The facility is administered by Royal Bank of Canada and JPMorgan Chase Bank and fully replaces the previous credit agreement established in January 2021.

The term loan was fully drawn at closing and will amortize at a rate of 0.25% per quarter. Interest rates under the facility vary based on the company’s total debt to EBITDA ratio, ranging from 1.25% to 2.00% for SOFR-based revolving loans and set at 1.75% for the term loan. Alternate base rate borrowings range from 0.25% to 1.00% for the revolving portion and 0.75% for the term facility.

All obligations under the agreement are secured by assets of Murphy USA, Murphy Oil USA, and participating subsidiaries, and are subject to customary covenants that limit additional debt, asset sales, dividends, and related-party transactions.

The company stated the agreement reinforces its financial position and enhances its ability to invest in growth initiatives while maintaining balance sheet discipline.