Marathon Petroleum eyeing two-part senior notes offering Tuesday

By Aleesia Forni

Virginia Beach, Sept. 2 – Marathon Petroleum Corp. plans to sell a two-part offering of senior notes in tranches due 2024 and 2044 on Tuesday, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

MUFG, RBS Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Barclays, UBS Securities LLC and Wells Fargo Securities LLC are acting as joint bookrunners for the 10-year tranche.

RBS Securities, BofA Merrill Lynch, Barclays, MUFG, Citigroup, Morgan Stanley and J.P. Morgan Securities LLC are the bookrunners for the 30-year tranche.

Proceeds will be used to fund the company’s pending acquisition of Hess Retail Holdings LLC through its wholly owned subsidiary Speedway LLC.

Marathon Petroleum is a crude oil refiner based in Findlay, Ohio.

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