Exxon Mobil announces $111.95 million floating rate notes due 2075

Exxon Mobil Corporation (NYSE:XOM) disclosed Thursday that it has entered into an underwriting agreement for the issuance and sale of $111,949,000 aggregate principal amount of its Floating Rate Notes due 2075. The agreement was executed on November 7 with RBC Capital Markets, LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, and UBS Securities LLC, acting as managers for the group of underwriters. For the energy giant, which boasts a market capitalization of approximately $501 billion, this debt issuance represents a small addition to its existing $42 billion total debt load.

According to the company’s statement, the notes will be issued under an indenture originally entered into on March 20, 2014, with Deutsche Bank Trust Company Americas as trustee. The terms and forms of the notes were established by an officer’s certificate dated November 12.

The offering was made under Exxon Mobil’s registration statement on Form S-3, filed with the Securities and Exchange Commission on March 10, 2023 (Registration No. 333-270460). The underwriting agreement and related documents, including legal opinions from Davis Polk & Wardwell LLP and Exxon Mobil’s counsel, are included as exhibits to the current report on Form 8-K.

This information is based on a press release statement contained in Exxon Mobil’s SEC filing.

In other recent news, ExxonMobil reported its third-quarter 2025 earnings, revealing an earnings per share (EPS) of $1.88, which surpassed analysts’ expectations of $1.83. The company’s revenue also exceeded forecasts, coming in at $85.29 billion compared to the anticipated $83.6 billion. Furthermore, ExxonMobil has signed a memorandum of understanding with Egypt’s Petroleum Ministry to expand natural gas exploration and production activities in the Egyptian Mediterranean. As part of this agreement, ExxonMobil plans to invest in a new concession area west of Egypt’s Zohr field.

In addition, ExxonMobil’s board of directors has elected Greg C. Garland as a new non-employee director, effective immediately. Garland will also serve on the Audit Committee and the Finance Committee. Meanwhile, CEO Darren Woods has indicated that hydrocarbons will continue to be crucial for global energy needs for the foreseeable future. However, Woods also warned that ExxonMobil might be forced to exit the European market if the European Union does not modify its proposed sustainability law, which could impose significant penalties on companies.

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