MPLX LP Announces Pricing of Initial Public Offering of Common Units
(Thomson Reuters ONE) -
FINDLAY, Ohio, Oct. 26, 2012 - MPLX LP (MPLX), a Delaware limited partnership
and a subsidiary of Marathon Petroleum Corporation (NYSE: MPC), announced today
that it has priced its initial public offering of 17,300,000 common units at $22
per common unit. The underwriters have been granted a 30-day option to purchase
from MPLX up to an additional 2,595,000 common units at the initial public
offering price, less underwriting discounts, commission and structuring fees, to
cover over-allotments, if any. The common units will begin trading on October
26, 2012 on the New York Stock Exchange under the ticker symbol "MPLX." The
offering is expected to close on or about October 31, 2012, subject to customary
closing conditions.
Upon conclusion of the offering, the public will own a 22.9 percent limited
partner interest in MPLX, or a 26.4 percent limited partner interest if the
underwriters exercise, in full, their option to purchase additional common
units. MPC, through certain of its subsidiaries, will hold a 2 percent general
partner interest and the remaining limited partner interest in MPLX.
UBS Investment Bank, BofA Merrill Lynch, Morgan Stanley, Citigroup and J.P.
Morgan are acting as joint book-running managers for the offering. Barclays,
Deutsche Bank Securities and Wells Fargo Securities are acting as co-managers
for the offering.
The offering of these securities will be made only by means of a prospectus. A
written prospectus that meets the requirements of Section 10 of the Securities
Act of 1933 may be obtained from:
UBS Investment Bank
Prospectus Department
299 Park Avenue
New York, NY 10171
(888) 827-7275
BofA Merrill Lynch
Prospectus Department
222 Broadway
New York, NY 10038
Email: dg.prospectus_requests(at)baml.com
Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
(866) 718-1649
Email: prospectus(at)morganstanley.com
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
(800) 831-9146
Email: batprospectusdept(at)citi.com
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
(866) 803-9204
A registration statement relating to these securities has been filed with and
declared effective by the U.S. Securities and Exchange Commission (SEC). The
registration statement may be obtained free of charge from the SEC's website at
www.sec.gov under the registrant's name, "MPLX LP." This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or jurisdiction.
About MPLX LP
MPLX is a fee-based, growth-oriented limited partnership recently formed by
Marathon Petroleum Corporation to own, operate, develop and acquire crude oil,
refined product and other hydrocarbon-based product pipelines and other
midstream assets. Headquartered in Findlay, Ohio, MPLX's assets consist of a 51
percent interest in a network of common carrier crude oil and products pipeline
assets located in the Midwest and Gulf Coast regions of the United States and a
100 percent interest in a butane storage cavern located in West Virginia.
Investor Relations Contacts:
Pamela Beall (419) 429-5640
Beth Hunter (419) 421-2559
Media Contacts:
Angelia Graves (419) 421-2703
This press release contains "forward-looking" statements within the meaning of
the federal securities laws. These statements contain words such as "possible,"
"if," "will" and "expect" and express future expectations that can be impacted
by numerous risks and uncertainties, including risks relating to the securities
markets generally. There can be no assurance that actual results will not
differ from those expected by management of MPC or MPLX. For more information
concerning factors that could cause actual results to differ materially from
those conveyed in the forward-looking statements, please refer to the "Risk
Factors" section of the prospectus filed by MPLX with the SEC. These forward-
looking statements are based on and include our expectations as of the date
hereof. Neither MPC nor MPLX undertake any obligation to update or revise such
forward-looking statements to reflect events or circumstances that occur, or of
which MPC or MPLX becomes aware, after the date hereof.
# # #
MPLX Announces Pricing of IPO:
http://hugin.info/155038/R/1652642/533550.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: MPLX LP via Thomson Reuters ONE
[HUG#1652642]
Datum: 26.10.2012 - 13:34 Uhr
Sprache: Deutsch
News-ID 196770
Anzahl Zeichen: 5713
contact information:
Town:
FINDLAY
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 187 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"MPLX LP Announces Pricing of Initial Public Offering of Common Units"
steht unter der journalistisch-redaktionellen Verantwortung von
MPLX LP (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
