By Aleesia Forni
Virginia Beach, Sept. 2 – Marathon Petroleum Corp. priced $1.95 billion of senior notes in three tranches, according to a company news release.
The sale included $750 million of 3.625% notes due 2024 priced at 99.641.
There was also $800 million of 4.75% notes due 2044 sold at 98.862.
A $400 million tranche of 5% notes due 2054 priced at 98.77.
MUFG, RBS Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Barclays, J.P. Morgan Securities LLC, BofA Merrill Lynch, UBS Securities LLC and Wells Fargo Securities, LLC acted as joint bookrunners for the offering.
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.
| Issuer: | Marathon Petroleum Corp.
|
| Issue: | Senior notes
|
| Bookrunners: | MUFG, RBS Securities Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Barclays, J.P. Morgan Securities LLC, BofA Merrill Lynch, UBS Securities LLC, Wells Fargo Securities, LLC
|
| Amount: | $1.95 billion
|
| Trade date: | Sept. 2
|
| Settlement date: | Sept. 5
|
| Distribution: | SEC registered
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | 2024
|
| Coupon: | 3.625%
|
| Price: | 99.641
|
|
|
| 30-year bonds
|
| Amount: | $800 million
|
| Maturity: | 2044
|
| Coupon: | 4.75%
|
| Price: | 98.862
|
|
|
| 40-year bonds
|
| Amount: | $400 million
|
| Maturity: | 2054
|
| Coupon: | 5%
|
| Price: | 98.77
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
