Exxon sells $5.5B in first bond sale in two decades

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon Mobil (XOM) sold $5.5B in its biggest-ever bond offering as the energy giant ended a more than two-decade absence from the U.S. bond market.

AAA-rated XOM issued fixed- and floating-rate notes in a five-part sale, and plans to use the proceeds to finance capital spending, for acquisitions and to refinance commercial borrowings.

The new securities will add to XOM’s $22.7B of total debt, which accounts for a relatively low ~39% of its trailing 12-month cash flow at year-end, according to Bloomberg.