MPLX LP Announces Initial Senior Notes Offering
(Thomson Reuters ONE) -
FINDLAY, Ohio, Feb. 9, 2015 - MPLX LP (NYSE: MPLX) announced today that it has
commenced an underwritten public offering of unsecured senior notes pursuant to
an effective shelf registration statement on Form S-3 previously filed with the
Securities and Exchange Commission (SEC). The actual terms of the unsecured
senior notes, including principal amount, interest rate and maturity, will
depend on market and other conditions.
MPLX intends to use the net proceeds from this offering to repay all or a
portion of the amount outstanding under its revolving credit facility. The
remaining net proceeds, if any, will be used for general partnership purposes,
which may include, from time to time, capital expenditures, acquisitions and
repayment of debt.
Barclays, BNP Paribas, Goldman, Sachs & Co., Fifth Third Securities, PNC Capital
Markets LLC, Scotiabank, and US Bancorp are acting as joint book-running
managers.
This offering will be made only by means of a prospectus and related prospectus
supplement, which may be obtained for free by visiting the SEC's website at
http://www.sec.gov. Alternatively, copies may be obtained by contacting the
following, who are acting as representatives of the underwriters:
Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
1-888-603-5847
BNP Paribas
787 Seventh Avenue
New York, NY 10019
1-800-854-5674
Goldman, Sachs & Co.
Prospectus Department
200 West Street
New York, NY 10282
(866) 471-2526
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 fee-based, growth-oriented master limited partnership formed in 2012
by Marathon Petroleum Corporation to own, operate, develop and acquire pipelines
and other midstream assets related to the transportation and storage of crude
oil, refined products and other hydrocarbon-based products. Headquartered in
Findlay, Ohio, MPLX's assets consist of a 99.5 percent equity 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, with approximately 1
million barrels of natural gas liquids storage capacity.
Investor Relations Contacts:
Geri Ewing (419) 421-2071
Teresa Homan (419) 421-2965
Media Contacts:
Chuck Rice (419) 421-2521
This press release contains forward-looking statements within the meaning of
federal securities laws. These forward-looking statements relate to, among other
things, expectations, estimates and projections concerning the business and
operations of MPLX. You can identify forward-looking statements by words such as
"anticipate," "believe," "estimate," "objective," "expect," "forecast," "plan,"
"project," "potential," "target," "could," "may," "should," "would," "will" or
other similar expressions that convey the uncertainty of future events or
outcomes. Such forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and other factors, some of
which are beyond the issuer's control and are difficult to predict. Factors that
could cause MPLX's actual results to differ materially from those in the
forward-looking statements include: the adequacy of our capital resources and
liquidity, including, but not limited to, availability of sufficient cash flow
to pay distributions and execute our business plan; the timing and extent of
changes in commodity prices and demand for crude oil, refined products,
feedstocks or other hydrocarbon-based products; volatility in and/or degradation
of market and industry conditions; completion of pipeline capacity by our
competitors; disruptions due to equipment interruption or failure, including
electrical shortages and power grid failures; the suspension, reduction or
termination of MPC's obligations under our commercial agreements; our ability to
successfully implement our growth plan, whether through organic growth or
acquisitions; modifications to earnings and distribution growth objectives;
federal and state environmental, economic, health and safety, energy and other
policies and regulations; changes to MPLX's capital budget; other risk factors
inherent to our industry; finalization of our financial statements for the
quarter and year ended December 31, 2014; and the factors set forth under the
heading "Risk Factors" in MPLX's Annual Report on Form 10-K for the year ended
Dec. 31, 2013, filed with the Securities and Exchange Commission (SEC). In
addition, unpredictable or unknown factors not discussed here or in MPLX's Form
10-K could also have material adverse effects on forward-looking statements.
MPLX Initial Senior Notes Offering:
http://hugin.info/155038/R/1892875/670559.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1892875]
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