MPLX LP prices $4.5 billion senior notes offering

FINDLAY, Ohio, Aug. 7, 2025 /PRNewswire/ -- MPLX LP (NYSE: MPLX) announced today that it has priced $4.5 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of $1.25 billion aggregate principal amount of 4.800% senior notes due 2031, $750 million aggregate principal amount of 5.000% senior notes due 2033, $1.5 billion aggregate principal amount of 5.400% senior notes due 2035 and $1.0 billion aggregate principal amount of 6.200% senior notes due 2055.

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 55% interest in BANGL, LLC ("BANGL") and the repayment of BANGL's outstanding debt. MPLX intends to use the remainder of the net proceeds from this offering for general partnership purposes, which may include capital expenditures and working capital.

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 USA LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for this offering.

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 http://www.sec.gov. 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

Edgewood, New York 11717

Attn: Broadridge Financial Solutions

E-mail: [email protected];

[email protected]

Goldman Sachs & Co. LLC

200 West Street

New York, New York

Attn: Prospectus Department

Toll-free: 1-866-471-2526

E-mail: [email protected]

BofA Securities, Inc.

201 North Tryon Street

NC1-022-02-25

Charlotte, North Carolina 28255-0001

Attn: Prospectus Department

Toll-free: 1-800-294-1322

E-mail: [email protected] 

Mizuho Securities USA LLC

1271 Avenue of the Americas

New York, NY 10020

Attn: Debt Capital Markets

Toll-Free: 1-866-271-7403

TD Securities (USA) LLC

1 Vanderbilt Avenue, 11th Floor

New York, New York 10017

Attn: DCM – Transaction Advisory

Toll-Free: (855) 495-9846

Wells Fargo Securities, LLC

608 2nd Avenue South, Suite 1000

Minneapolis, MN 55402

Attn: WFS Customer Service

Toll-free: 1-800-645-3751

Email: [email protected]

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 U.S. supply basins.  

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

SOURCE MPLX LP