FINDLAY, Ohio, March 10, 2022 /PRNewswire/ -- MPLX LP (NYSE:
MPLX) announced today that it has priced $1,500,000,000 in aggregate principal amount of
4.950% senior notes due 2052 (the "Notes") in an underwritten
public offering. The Notes were offered at a price to the public of
98.982% of par.
MPLX intends to use the net proceeds from this offering to repay
outstanding borrowings under an intercompany loan agreement with
its sponsor, Marathon Petroleum Corporation, and its revolving
credit agreement. Any remaining net proceeds will be used for
general partnership purposes.
The closing of the offering is expected to occur on March 14, 2022, subject to satisfaction of
customary closing conditions.
Citigroup Global Markets Inc., RBC Capital Markets, LLC and TD
Securities (USA) LLC are acting as
joint book-running managers for the offering.
This offering is being made only by means of a prospectus and
related prospectus supplement, which may be obtained for free by
visiting the Securities and Exchange Commission's website at
http://www.sec.gov. Alternatively, copies may be obtained by
contacting the following, who are acting as representatives of the
underwriters:
Citigroup Global Markets Inc.
c/o Broadridge Financial
Solutions
1155 Long Island
Avenue
Edgewood, NY
11717
Toll-Free: 1-800-831-9146
RBC Capital Markets, LLC
Brookfield Place
200 Vesey Street, 8th Floor
New York, New York 10281
Toll-Free: 1-866-375-6829
TD Securities (USA) LLC
1 Vanderbilt Avenue, 12th Floor
New York, New York 10017
Toll-Free: 1-855-495-9846
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that
owns and operates midstream energy infrastructure and logistics
assets, and provides fuels distribution services. MPLX's assets
include a network of crude oil and refined petroleum product
pipelines; an inland marine business; light-product terminals;
storage caverns; refinery tanks, docks, loading racks, and
associated piping; and crude and light-product marine terminals.
The company also owns crude oil and natural gas gathering systems
and pipelines as well as natural gas and NGL processing and
fractionation facilities in key U.S. supply basins.
Investor Relations Contacts: (419)
421-2071
Kristina Kazarian,
Vice President, Investor Relations
Jamie Madere, Manager, Investor
Relations
Isaac Feeney, Analyst, Investor
Relations
Media Contact: (419) 421-3312
Jamal Kheiry,
Communications Manager
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SOURCE MPLX LP