MPLX LP (NYSE: MPLX) announced today that it has priced $4.5 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of $1.25 billion aggregate principal amount of 4.800% senior notes due 2031, $750 million aggregate principal amount of 5.000% senior notes due 2033, $1.5 billion aggregate principal amount of 5.400% senior notes due 2035 and $1.0 billion aggregate principal amount of 6.200% senior notes due 2055.
MPLX intends to use a portion of the net proceeds from this offering to fund the pending acquisition of Northwind Delaware Holdings LLC, including the payment of related fees and expenses, and to increase cash and cash equivalents following the recently completed acquisition of the remaining 55% interest in BANGL, LLC (“BANGL”) and the repayment of BANGL's outstanding debt. MPLX intends to use the remainder of the net proceeds from this offering for general partnership purposes, which may include capital expenditures and working capital.
The closing of this offering is expected to occur on August 11, 2025, subject to satisfaction of customary closing conditions.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BofA Securities, Inc., Mizuho Securities USA LLC, TD Securities (USA) LLC and Wells Fargo 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:
J.P. Morgan Securities LLC1155 Long Island AvenueEdgewood, New York 11717Attn: Broadridge Financial SolutionsE-mail: prospectus-eq_fi@jpmchase.com;postsalemanualrequests@broadridge.com
Goldman Sachs & Co. LLC200 West StreetNew York, New YorkAttn: Prospectus DepartmentToll-free: 1-866-471-2526E-mail: prospectus-ny@ny.email.gs.com
BofA Securities, Inc.201 North Tryon StreetNC1-022-02-25Charlotte, North Carolina 28255-0001Attn: Prospectus DepartmentToll-free: 1-800-294-1322E-mail: dg.prospectus_requests@bofa.com
Mizuho Securities USA LLC1271 Avenue of the AmericasNew York, NY 10020Attn: Debt Capital MarketsToll-Free: 1-866-271-7403
TD Securities (USA) LLC1 Vanderbilt Avenue, 11th FloorNew York, New York 10017Attn: DCM – Transaction AdvisoryToll-Free: (855) 495-9846
Wells Fargo Securities, LLC608 2nd Avenue South, Suite 1000Minneapolis, MN 55402Attn: WFS Customer ServiceToll-free: 1-800-645-3751Email:wfscustomerservice@wellsfargo.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 LPMPLX 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) 421-2071Kristina Kazarian, Vice President Finance and Investor RelationsBrian Worthington, Senior Director, Investor RelationsIsaac Feeney, Director, Investor RelationsEvan Heminger, Analyst, Investor Relations
Media Contact: (419) 421-3577Jamal Kheiry, Communications Manager
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SOURCE MPLX LP
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