MPLX LP prices $4.5 billion senior notes offering
MPLX LP (NYSE: MPLX) has successfully priced a $4.5 billion senior notes offering consisting of multiple tranches with varying maturities and interest rates. The offering includes $1.25 billion of 4.800% notes due 2031, $750 million of 5.000% notes due 2033, $1.5 billion of 5.400% notes due 2035, and $1.0 billion of 6.200% notes due 2055.
The proceeds will partially fund the pending Northwind Delaware Holdings acquisition and support the recently completed acquisition of the remaining 55% interest in BANGL, LLC. The remaining funds will be used for general partnership purposes. The offering is expected to close on August 11, 2025, with six major financial institutions serving as joint book-running managers.
MPLX LP (NYSE: MPLX) ha completato con successo il collocamento di un'offerta di obbligazioni senior da 4,5 miliardi di dollari, suddivisa in pi霉 tranche con scadenze e tassi di interesse differenti. L'offerta comprende 1,25 miliardi di dollari di obbligazioni al 4,800% con scadenza 2031, 750 milioni di dollari al 5,000% con scadenza 2033, 1,5 miliardi di dollari al 5,400% con scadenza 2035 e 1 miliardo di dollari al 6,200% con scadenza 2055.
I proventi finanzieranno parzialmente l'acquisizione in corso di Northwind Delaware Holdings e supporteranno l'acquisizione recentemente completata del restante 55% di partecipazione in BANGL, LLC. I fondi residui saranno destinati a scopi generali di partnership. La chiusura dell'offerta 猫 prevista per il 11 agosto 2025, con sei importanti istituzioni finanziarie che agiranno come co-responsabili del collocamento.
MPLX LP (NYSE: MPLX) ha logrado colocar exitosamente una oferta de bonos senior por 4.500 millones de d贸lares compuesta por varias series con diferentes vencimientos y tasas de inter茅s. La oferta incluye 1.250 millones de d贸lares en bonos al 4,800% con vencimiento en 2031, 750 millones de d贸lares al 5,000% con vencimiento en 2033, 1.500 millones de d贸lares al 5,400% con vencimiento en 2035 y 1.000 millones de d贸lares al 6,200% con vencimiento en 2055.
Los fondos se utilizar谩n parcialmente para financiar la adquisici贸n pendiente de Northwind Delaware Holdings y respaldar la adquisici贸n recientemente completada del 55% restante de BANGL, LLC. Los fondos restantes se destinar谩n a fines generales de la sociedad. Se espera que la oferta cierre el 11 de agosto de 2025, con seis importantes instituciones financieras actuando como gestores conjuntos del libro de 贸rdenes.
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MPLX LP (NYSE: MPLX) a r茅ussi 脿 茅mettre une offre d'obligations senior de 4,5 milliards de dollars compos茅e de plusieurs tranches avec des 茅ch茅ances et des taux d'int茅r锚t vari茅s. L'offre comprend 1,25 milliard de dollars d'obligations 脿 4,800% 茅ch茅ant en 2031, 750 millions de dollars 脿 5,000% 茅ch茅ant en 2033, 1,5 milliard de dollars 脿 5,400% 茅ch茅ant en 2035 et 1 milliard de dollars 脿 6,200% 茅ch茅ant en 2055.
Les fonds serviront en partie 脿 financer l'acquisition en cours de Northwind Delaware Holdings et 脿 soutenir l'acquisition r茅cemment finalis茅e des 55% restants de BANGL, LLC. Les fonds restants seront utilis茅s 脿 des fins g茅n茅rales de partenariat. La cl么ture de l'offre est pr茅vue pour le 11 ao没t 2025, avec six institutions financi猫res majeures agissant en tant que gestionnaires conjoints du livre d'ordres.
MPLX LP (NYSE: MPLX) hat erfolgreich eine Senior-Notes-Emission in H枚he von 4,5 Milliarden US-Dollar mit mehreren Tranchen zu unterschiedlichen Laufzeiten und Zinss盲tzen platziert. Die Emission umfasst 1,25 Milliarden US-Dollar 4,800% Notes f盲llig 2031, 750 Millionen US-Dollar 5,000% Notes f盲llig 2033, 1,5 Milliarden US-Dollar 5,400% Notes f盲llig 2035 und 1 Milliarde US-Dollar 6,200% Notes f盲llig 2055.
Die Erl枚se werden teilweise zur Finanzierung der anstehenden 脺bernahme von Northwind Delaware Holdings verwendet und unterst眉tzen den k眉rzlich abgeschlossenen Erwerb der restlichen 55% der Anteile an BANGL, LLC. Die verbleibenden Mittel dienen allgemeinen Partnerschaftszwecken. Der Abschluss der Emission wird f眉r den 11. August 2025 erwartet, wobei sechs f眉hrende Finanzinstitute als gemeinsame Bookrunner fungieren.
- Successful pricing of substantial $4.5 billion senior notes offering
- Strategic funding secured for Northwind Delaware Holdings acquisition
- Completed acquisition of remaining 55% stake in BANGL, LLC
- Strong backing from six major financial institutions as joint book-running managers
- Significant increase in debt obligations with new $4.5 billion notes
- Higher interest rates ranging from 4.800% to 6.200% on the notes
- Long-term debt commitments extending up to 2055
Insights
MPLX's $4.5B debt offering funds strategic acquisitions while significantly increasing leverage, with varied interest rates reflecting term structure.
MPLX has priced a substantial
The capital allocation strategy is clearly acquisition-focused. A portion of the proceeds will fund the pending Northwind Delaware Holdings acquisition, while another portion essentially refinances the recently completed acquisition of the remaining
The staggered maturity profile (2031, 2033, 2035, and 2055) indicates prudent liability management, spreading refinancing risk across different time horizons. The increasing interest rates across longer maturities (
The participation of six major financial institutions as joint book-running managers (J.P. Morgan, Goldman Sachs, BofA Securities, Mizuho, TD Securities, and Wells Fargo) suggests strong market appetite for this offering, likely due to MPLX's position in the midstream energy infrastructure sector.
While this offering provides MPLX with significant capital flexibility for its growth strategy, it also substantially increases the partnership's leverage. Investors should monitor how effectively management deploys this capital toward acquisitions that generate returns exceeding their cost of capital, particularly given the relatively high interest rates on the longer-dated notes.
MPLX intends to use a portion of the net proceeds from this offering to fund the pending acquisition of Northwind Delaware Holdings LLC, including the payment of related fees and expenses, and to increase cash and cash equivalents following the recently completed acquisition of the remaining
The closing of this offering is expected to occur on August 11, 2025, subject to satisfaction of customary closing conditions.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BofA Securities, Inc., Mizuho Securities
This offering is being made only by means of a prospectus and related prospectus supplement, which may be obtained for free by visiting the Securities and Exchange Commission's website at . Alternatively, copies may be obtained by contacting the following, which are acting as representatives of the underwriters:
J.P. Morgan Securities LLC
1155 Long Island Avenue
Attn: Broadridge Financial Solutions
E-mail: [email protected];
[email protected]
Goldman Sachs & Co. LLC
200 West Street
Attn: Prospectus Department
Toll-free: 1-866-471-2526
E-mail: [email protected]
BofA Securities, Inc.
201 North Tryon Street
NC1-022-02-25
Attn: Prospectus Department
Toll-free: 1-800-294-1322
E-mail: 诲驳.辫谤辞蝉辫别肠迟耻蝉冲谤别辩耻别蝉迟蝉蔼产辞蹿补.肠辞尘听
Mizuho Securities
1271 Avenue of the
Attn: Debt Capital Markets
Toll-Free: 1-866-271-7403
TD Securities (
1 Vanderbilt Avenue, 11th Floor
Attn: DCM 鈥� Transaction Advisory
Toll-Free: (855) 495-9846
Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Attn: WFS Customer Service
Toll-free: 1-800-645-3751
Email:听飞蹿蝉肠耻蝉迟辞尘别谤蝉别谤惫颈肠别蔼飞别濒濒蝉蹿补谤驳辞.肠辞尘
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 MPLX LP
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key
Investor Relations Contact: (419) 421-2071
Kristina Kazarian, Vice President Finance and Investor Relations
Brian Worthington, Senior Director, Investor Relations
Isaac Feeney, Director, Investor Relations
Evan Heminger, Analyst, Investor Relations
Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager
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SOURCE MPLX LP
FAQ
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