Marathon Petroleum Corp. prices $2.0 billion senior notes offering
Marathon Petroleum Corp. prices $2.0 billion senior notes offering |
| [06-February-2025] |
FINDLAY, Ohio, Feb. 6, 2025 /PRNewswire/ -- Marathon Petroleum Corporation (NYSE: MPC) announced today that it has priced $2.0 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of $1.1 billion aggregate principal amount of 5.15% senior notes due 2030 and $900 million aggregate principal amount of 5.70% senior notes due 2035. MPC intends to use the net proceeds from this offering to repay, redeem or otherwise retire its outstanding $1.25 billion aggregate principal amount of 4.700% senior notes due May 2025 and for general corporate purposes. The closing of this offering is expected to occur on February 10, 2025, subject to satisfaction of customary closing conditions. Wells Fargo Securities, LLC, Citigroup Global Markets Inc. and MUFG Securities Americas Inc. are acting as joint book-running managers for the offering. MPC has filed a registration statement (including a prospectus and related preliminary prospectus supplement for the offering) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before investing, investors should read the preliminary prospectus supplement, the accompanying prospectus in that registration statement and the other documents MPC has filed with the SEC for more complete information about MPC and this offering. Investors may get these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, MPC, any underwriter or any dealer participating in the offering will arrange to send investors the preliminary prospectus supplement and the accompanying prospectus upon request by contacting the following, which are acting as representatives of the underwriters: Wells Fargo Securities, LLC Citigroup Global Markets Inc. MUFG Securities Americas Inc. This news release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Marathon Petroleum Corporation Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. Investor Relations Contacts: (419) 421-2071 Media Contact: (419) 421-3577
SOURCE Marathon Petroleum Corporation | ||
Company Codes: NYSE:MPC |
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