8-KOther EventsExhibits & Filings

EXXON MOBIL CORP 8-K Report, Corporate Update (Mar 6, 2015)

Filed March 6, 2015For Securities:XOM

Summary

Exxon Mobil Corporation (XOM) filed an 8-K on March 5, 2015, reporting on a significant debt issuance that occurred on March 3, 2015. The company entered into an underwriting agreement for the sale of a substantial amount of both floating rate and fixed rate notes, totaling approximately $7.45 billion. This offering diversifies Exxon Mobil's debt structure and extends its maturity profile across various tranches. The fixed-rate notes range in maturity from 2018 to 2045, with coupon rates varying from 1.305% to 3.567%, while the floating-rate notes mature in 2018 and 2022. This move indicates a strategic approach to managing its capital structure and funding its ongoing operations and investments.

Key Highlights

  • 1Exxon Mobil issued a total of approximately $7.45 billion in new debt through a mix of floating rate and fixed rate notes.
  • 2The issuance includes $1 billion in Floating Rate Notes due 2018 and 2022.
  • 3Fixed Rate Notes were issued across multiple maturities, ranging from 2018 to 2045, with coupon rates between 1.305% and 3.567%.
  • 4The debt offering was conducted under the company's existing shelf registration statement filed on Form S-3.
  • 5Key financial institutions like Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC acted as underwriters for this offering.
  • 6The proceeds from this issuance will be used to fund the company's ongoing business activities and investments.

Frequently Asked Questions

Exxon Mobil issued a total of $7.45 billion in aggregate principal amount of notes. This includes $1 billion in floating rate notes and $6.45 billion in fixed rate notes.

The company issued Floating Rate Notes due 2018 and 2022, and Fixed Rate Notes due 2018, 2020, 2022, 2025, and 2045. The specific coupon rates for the fixed rate notes varied based on their maturity.

While the 8-K does not explicitly state the specific use of proceeds, debt issuances of this nature are typically for general corporate purposes, including funding capital expenditures, operations, investments, and potentially refinancing existing debt.

The notes were offered pursuant to Exxon Mobil's Registration Statement on Form S-3, filed with the SEC on March 17, 2014.