NEW YORK (Reuters) – Exxon Mobil Corp on Monday raised $9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals.
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes
Exxon paid a lower price to borrow than it did in a similar debt deal almost four weeks ago, a sign of how investor confidence is gradually returning after a rout in energy prices and a stock market collapse fueled by the coronavirus outbreak.
Nevertheless, borrowing costs for Exxon were still higher than prior to the coronavirus outbreak.
Exxon raised $9.5 billion by selling five different bonds with a variety of durat