FINDLAY, Ohio, Aug. 7, 2025 /PRNewswire/ -- 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 LLC
1155 Long Island Avenue
Edgewood, New York 11717
Attn: Broadridge Financial Solutions
E-mail: prospectus-eq_fi@jpmchase.com;
postsalemanualrequests@broadridge.com
Goldman Sachs & Co. LLC
200 West Street
New York, New York
Attn: Prospectus Department
Toll-free: 1-866-471-2526
E-mail: prospectus-ny@ny.email.gs.com
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
Mizuho Securities USA LLC
1271 Avenue of the Americas
New York, NY 10020
Attn: Debt Capital Markets
Toll-Free: 1-866-271-7403
TD Securities (USA) LLC
1 Vanderbilt Avenue, 11th Floor
New York, New York 10017
Attn: DCM – Transaction Advisory
Toll-Free: (855) 495-9846
Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Minneapolis, MN 55402
Attn: WFS Customer Service
Toll-free: 1-800-645-3751
Email: 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 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
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SOURCE MPLX LP