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Exxon Raised Debt Of $9.5B In Order To Stock Up Cash

By John F. Heerdink, Jr.

As per reports, U.S oil giant Exxon Mobil (XOM) Corporation raised $9.5 billion in new debt as it seeks to boost its finances as debt markets remain open to new deals. The company raised $9.5 billion by selling five different bonds with duration ranging from five years to 31 years. Last year in August, Exxon raised $1.25 billion through a 10-year bond.

The move by Exxon comes as U.S. companies have been tapping debt markets for cash stocking up on cash due to the uncertainty of economic slowdown from coronavirus. Exxon stated to use the proceedings for “general corporate purposes.”, as per the regulatory filing.

Exxon Mobil (XOM) Corporation is a global oil and natural gas company, founded in 1870 and headquartered in Irving Texas, Exxon Mobil explores for and produces crude oil and natural gas, manufacture and markets commodity petrochemicals, and transports and sells crude oil, natural gas, and petroleum. To learn more about ExxonMobil Corporation (XOM) and to continue to track its progress please visit the Vista Partners ExxonMobil Corp. Page.

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