Exxon Mobil Issues $4.5B in New Notes
Ticker: XOM · Form: 8-K · Filed: Oct 8, 2024 · CIK: 34088
| Field | Detail |
|---|---|
| Company | Exxon Mobil Corp (XOM) |
| Form Type | 8-K |
| Filed Date | Oct 8, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $171,968,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-issuance, financing, notes
Related Tickers: XOM
TL;DR
XOM just dropped $4.5B in new debt across three different note series.
AI Summary
On October 4, 2024, Exxon Mobil Corporation (XOM) filed an 8-K report detailing the issuance of new notes. These include $1.5 billion in 0.524% notes due 2028, $1.5 billion in 0.524% notes due 2032, and $1.5 billion in 1.408% notes due 2039. The filing also includes financial statements and exhibits.
Why It Matters
Exxon Mobil's issuance of new debt indicates its ongoing financing activities and potential for future investments or operational needs.
Risk Assessment
Risk Level: low — This filing is a routine debt issuance and does not present immediate new risks to the company.
Key Numbers
- $4.5B — Total Debt Issued (Aggregate principal amount of notes issued across three series.)
- 0.524% — Interest Rate (2028 & 2032 Notes) (Coupon rate for the notes maturing in 2028 and 2032.)
- 1.408% — Interest Rate (2039 Notes) (Coupon rate for the notes maturing in 2039.)
Key Players & Entities
- Exxon Mobil Corporation (company) — Registrant
- XOM (company) — Ticker Symbol
- $1.5 billion (dollar_amount) — Principal amount of notes due 2028
- $1.5 billion (dollar_amount) — Principal amount of notes due 2032
- $1.5 billion (dollar_amount) — Principal amount of notes due 2039
- October 4, 2024 (date) — Date of earliest event reported
FAQ
What is the total principal amount of debt issued by Exxon Mobil in this filing?
Exxon Mobil issued a total of $4.5 billion in new notes, comprised of $1.5 billion due 2028, $1.5 billion due 2032, and $1.5 billion due 2039.
What are the maturity dates for the newly issued notes?
The notes have maturity dates in 2028, 2032, and 2039.
What are the interest rates for the new notes?
The notes due 2028 and 2032 carry an interest rate of 0.524%, while the notes due 2039 carry an interest rate of 1.408%.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on October 4, 2024.
What is the primary purpose of this 8-K filing?
This 8-K filing is primarily to report on the 'Other Events' related to the issuance of new debt securities and to include financial statements and exhibits.
Filing Stats: 826 words · 3 min read · ~3 pages · Grade level 10.6 · Accepted 2024-10-08 09:23:01
Key Financial Figures
- $171,968,000 — the issuance and sale by the Company of $171,968,000 aggregate principal amount of its Float
Filing Documents
- d888049d8k.htm (8-K) — 36KB
- d888049dex11.htm (EX-1.1) — 76KB
- d888049dex43.htm (EX-4.3) — 165KB
- d888049dex51.htm (EX-5.1) — 9KB
- d888049dex52.htm (EX-5.2) — 8KB
- g888049g1005114414003.jpg (GRAPHIC) — 2KB
- g888049snap1.jpg (GRAPHIC) — 5KB
- g888049snap3.jpg (GRAPHIC) — 5KB
- 0001193125-24-234137.txt ( ) — 528KB
- xom-20241004.xsd (EX-101.SCH) — 5KB
- xom-20241004_def.xml (EX-101.DEF) — 14KB
- xom-20241004_lab.xml (EX-101.LAB) — 23KB
- xom-20241004_pre.xml (EX-101.PRE) — 15KB
- d888049d8k_htm.xml (XML) — 8KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 1.1 Underwriting Agreement dated October 4, 2024 among Exxon Mobil Corporation and Morgan Stanley & Co. LLC, UBS Securities LLC, RBC Capital Markets, LLC and Deutsche Bank Securities Inc., as managers of the several underwriters named therein 4.1 Indenture dated as of March 20, 2014 between Exxon Mobil Corporation and Deutsche Bank Trust Company Americas, as trustee (incorporated by reference to Exhibit 4.1 to the Company's Report on Form 8-K of March 20, 2014) 4.2 First Supplemental Indenture dated as of June 26, 2020 between Exxon Mobil Corporation and Deutsche Bank Trust Company Americas, as trustee (incorporated by reference to Exhibit 4.2 to the Company's Report on Form 8-K of June 26, 2020) 4.3 Officer's Certificate of Exxon Mobil Corporation dated October 8, 2024 4.4 Form of Global Note representing the Floating Rate Notes due 2074 (included in Exhibit 4.3) 5.1 Opinion of Davis Polk & Wardwell LLP 5.2 Opinion of Timothy Kim, Esq., Counsel—Corporate of Exxon Mobil Corporation 23.1 Consent of Davis Polk & Wardwell LLP (included in Exhibit 5.1) 23.2 Consent of Timothy Kim, Esq. (included in Exhibit 5.2) 104 Cover Page Interactive Data File (formatted as Inline XBRL) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EXXON MOBIL CORPORATION Date: October 8, 2024 By: /s/ James R. Chapman Name: James R. Chapman Title: Vice President, Treasurer and Investor Relations