FINDLAY,
Ohio, March 3, 2025 /PRNewswire/ -- MPLX LP
(NYSE: MPLX) announced today that it has priced $2.0 billion in aggregate principal amount of
unsecured senior notes in an underwritten public offering
consisting of $1.0 billion aggregate
principal amount of 5.400% senior notes due 2035 and $1.0 billion aggregate principal amount of 5.950%
senior notes due 2055.
MPLX intends to use the net proceeds from this offering to (i)
repay, redeem or otherwise retire some or all of MPLX's outstanding
$1,189 million aggregate principal
amount of 4.875% senior notes due June
2025, (ii) repay, redeem or otherwise retire some or all of
MarkWest's outstanding $11 million
aggregate principal amount of 4.875% senior notes due June 2025 and (iii) for general partnership
purposes.
The closing of this offering is expected to occur on
March 10, 2025, subject to
satisfaction of customary closing conditions.
BofA Securities, Inc., Barclays Capital Inc. and J.P. Morgan
Securities LLC are acting as joint book-running managers for this
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, which are acting as representatives of
the underwriters:
BofA Securities, Inc.
201 North Tryon Street
NC1-022-02-25
Charlotte, North Carolina
28255-0001
Attn: Prospectus Department
Toll-free: 1-800-294-1322
E-mail: dg.prospectus_requests@bofa.com
Barclays Capital Inc.
1155 Long Island Avenue
Edgewood, New York 11717
Attn: Broadridge Financial Solutions
Toll-Free: 1-888-603-5847
E-mail: barclaysprospectus@broadridge.com
J.P. Morgan Securities LLC
1155 Long Island Avenue
Edgewood, New York 11717
Attn: Broadridge Financial Solutions
E-mail: prospectus-eq_fi@jpmchase.com;
postsalemanualrequests@broadridge.com
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
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 Contact: (419)
421-2071
Kristina Kazarian,
Vice President Finance and Investor Relations
Brian Worthington, Senior Director,
Investor Relations
Isaac Feeney, Director, Investor
Relations
Evan Heminger, Analyst, Investor
Relations
Media Contact: (419) 421-3577
Jamal Kheiry,
Communications Manager
View original
content:https://www.prnewswire.com/news-releases/mplx-lp-prices-2-0-billion-senior-notes-offering-302390698.html
SOURCE MPLX LP
