MPLX eyes new notes to repay $500 million Andeavor notes, may also pay down revolver

By Wendy Van Sickle

Columbus, Ohio, Aug. 22 – MPLX LP plans to issue new notes to repay wholly owned subsidiary Andeavor Logistics LP’s $500 million of 5.5% notes that mature in October, according to a news release.

The company may also use a portion of the proceeds to repay part of its revolving credit facility debt and/or amounts owed under the intercompany loan with Marathon Petroleum Corp.

MPLX also announced on Thursday that it is offering to exchange Andeavor’s other outstanding notes for new notes issued by MPLX and cash.

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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