Exxon Mobil to carve whole euro curve in one stroke

Exxon pipe
By Mike Turner
22 Jun 2020

Exxon Mobil, the US oil major, is due to establish a bond curve in euros for the first time, as it continues building up cash as the hydrocarbons industry is pummelled by the coronavirus pandemic.

Exxon Mobil, rated A1/AA, has hired Barclays, Deutsche Bank, HSBC and Société Générale for debut benchmark euro bonds at four, eight, 12 and 19 year maturities.

The strategy of establishing an entire curve in one swoop is similar to competitor BP last week in the hybrid capital market. It printed ...

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