Exxon Mobil Corporation, one of the world's leading oil and gas companies, has announced the issuance of $171,968,000 in Floating Rate Notes due 2074. The notes will pay interest quarterly, starting January 15, 2025, at a rate of Compounded SOFR minus 0.450% per year. The notes are scheduled to mature on October 15, 2074, but Exxon Mobil reserves the right to redeem the notes at any time on or after October 15, 2054, at specified redemption prices. Additionally, note holders may require repayment on specified dates beginning October 15, 2025, through October 15, 2071. In the event of a 'tax event,' Exxon Mobil has the right to shorten the maturity of the notes to ensure interest paid is deductible for U.S. federal income tax purposes. The notes, which are general unsecured...Show More

Exxon Mobil Corporation, one of the world's leading oil and gas companies, has announced the issuance of $171,968,000 in Floating Rate Notes due 2074. The notes will pay interest quarterly, starting January 15, 2025, at a rate of Compounded SOFR minus 0.450% per year. The notes are scheduled to mature on October 15, 2074, but Exxon Mobil reserves the right to redeem the notes at any time on or after October 15, 2054, at specified redemption prices. Additionally, note holders may require repayment on specified dates beginning October 15, 2025, through October 15, 2071. In the event of a 'tax event,' Exxon Mobil has the right to shorten the maturity of the notes to ensure interest paid is deductible for U.S. federal income tax purposes. The notes, which are general unsecured obligations of Exxon Mobil, will not be listed on any securities exchange, and currently, there is no public market for them. The underwriters, led by Morgan Stanley, UBS Investment Bank, RBC Capital Markets, and Deutsche Bank Securities, have the option to create a market for the notes but are not obligated to do so. The offering is expected to close on or about October 8, 2024.