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Published on 11/7/2018 in the Prospect News Investment Grade Daily.

MPLX to conduct two-tranche offering of fixed-rate senior notes

By Devika Patel

Knoxville, Tenn., Nov. 7 – MPLX LP intends to price a two-part offering of fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will each have a make-whole call and then a par call.

J.P. Morgan Securities LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to redeem the company’s 5.5% senior notes due Feb. 15, 2023 at 101.833 plus unpaid interest, to repay borrowings under its revolving credit facility and the MPC intercompany loan agreement and for general partnership purposes.

MPLX is a Findlay, Ohio-based owner, operator and developer of crude oil pipeline and midstream assets in the United States.


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