Exxon Mobil Corporation (XOM, Financial) has entered into an underwriting agreement for the issuance and sale of $171,968,000 aggregate principal amount of its Floating Rate Notes due 2074. This strategic financial move was formalized on October 4, 2024, with prominent financial institutions including Morgan Stanley & Co. LLC, UBS Securities LLC, RBC Capital Markets, LLC, and Deutsche Bank Securities Inc. acting as managers of the several underwriters.
The issuance of these notes is part of Exxon Mobil's ongoing efforts to optimize its capital structure and secure long-term financing. The notes will be issued under an indenture initially established on March 20, 2014, with Deutsche Bank Trust Company Americas serving as the trustee. This indenture was previously supplemented and amended on June 26, 2020, and further detailed by an officer’s certificate dated October 8, 2024, which outlines the terms and forms of the notes.
The offering is conducted under Exxon Mobil's Registration Statement on Form S-3, filed with the Securities and Exchange Commission on March 10, 2023. The underwriting agreement and related documents, including the officer’s certificate and legal opinions from Davis Polk & Wardwell LLP and Timothy Kim, Esq., are incorporated by reference into this registration statement.
This move by Exxon Mobil Corporation reflects its commitment to maintaining a robust financial foundation, ensuring flexibility and resilience in its operations and strategic initiatives. Investors and stakeholders can view this as a positive step towards securing the company's financial future.
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