Marathon Petroleum pricing $1.5 billion notes in three parts Monday

By Aleesia Forni

New York, Dec. 7 – Marathon Petroleum Corp. plans to sell a $1.5 billion three-part offering of senior notes (Baa2/BBB) in tranches due 2018, 2020 and 2045 on Monday, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Goldman Sachs & Co. and Mizuho Securities are the bookrunners.

Proceeds will be used to pay $750 million of 3.5% notes due 2016 and for general corporate purposes.

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

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