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MPLX LP prices $1.5 billion senior notes offering

Published: 2022-03-10 21:05:00 ET

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, LLCBrookfield Place200 Vesey Street, 8th FloorNew York, New York 10281Toll-Free: 1-866-375-6829

TD Securities (USA) LLC1 Vanderbilt Avenue, 12th FloorNew York, New York 10017Toll-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) 421-2071Kristina Kazarian, Vice President, Investor RelationsJamie Madere, Manager, Investor RelationsIsaac Feeney, Analyst, Investor Relations

Media Contact: (419) 421-3312Jamal Kheiry, Communications Manager

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SOURCE MPLX LP

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.