Marathon Petroleum Corp. prices $1.5 billion senior notes offering
(Thomson Reuters ONE) -
FINDLAY, Ohio, Dec. 7, 2015 - Marathon Petroleum Corporation (NYSE: MPC) has
priced $1.5 billion in aggregate principal amount of unsecured senior notes in
an underwritten public offering consisting of three series of senior notes:
* $600 million aggregate principal amount of 2.700% senior notes due in 2018
* $650 million aggregate principal amount of 3.400% senior notes due in 2020
* $250 million aggregate principal amount of 5.850% senior notes due in 2045
The 2018 senior notes, the 2020 senior notes and the 2045 senior notes were
offered at a price to the public of 99.920%, 99.872% and 99.747%, of par,
respectively.
MPC intends to use the net proceeds from this offering to fund the repayment of
all $750 million aggregate principal amount of its 3.500% senior notes due
2016, at maturity or otherwise, and for general corporate purposes, which may
include investments in and advances to its affiliates and subsidiaries,
including MPLX LP.
The closing of the senior notes offering is expected to occur on Dec. 14, 2015,
subject to satisfaction of customary closing conditions.
J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated;
Goldman, Sachs & Co.; and Mizuho Securities USA Inc. are acting as joint book-
running managers for the 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, who are acting as representatives of
the underwriters:
J.P. Morgan Securities LLC
Attention: High Grade Syndicate Desk - 3(rd) Floor
383 Madison Avenue
New York, NY 10179
212-834-4533
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Attention: Prospectus Department
222 Broadway, 11th Floor
New York, NY 10038
Telephone: 1-800-294-1322
E-mail: dg.prospectus_requests(at)baml.com
Goldman, Sachs & Co.
Attention: Prospectus Department
200 West Street, New York, NY 10282
Telephone: 1-866-471-2526
Facsimile: 212-902-9316
E-mail: prospectus-ny(at)ny.email.gs.com.
Mizuho Securities USA Inc.
Attention: Debt Capital Markets
320 Park Avenue
New York, NY 10022
Telephone: 1-866-271-7403.
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
MPC is the nation's fourth-largest refiner, with a crude oil refining capacity
of approximately 1.8 million barrels per calendar day in its seven-refinery
system. Marathon brand gasoline is sold through approximately 5,600
independently owned retail outlets across 19 states. In addition, Speedway LLC,
an MPC subsidiary, owns and operates the nation's second-largest convenience
store chain, with approximately 2,760 convenience stores in 22 states. MPC owns,
leases or has ownership interests in approximately 8,300 miles of crude and
light product pipelines and 5,000 miles of gas gathering and natural gas liquids
(NGL) pipelines. MPC also has ownership interests in 51 gas processing plants,
10 NGL fractionation facilities and one condensate stabilization facility.
Through subsidiaries, MPC owns the general partner of MPLX LP, a midstream
master limited partnership. MPC's fully integrated system provides operational
flexibility to move crude oil, NGLs, feedstocks and petroleum-related products
efficiently through the company's distribution network and midstream service
businesses in the Midwest, Southeast and Gulf Coast regions.
Investor Relations Contacts:
Geri Ewing (419) 421-2071
Teresa Homan (419) 421-2965
Media Contacts:
Chuck Rice (419) 421-2521
Jamal Kheiry (419) 421-3312
This press release contains forward-looking statements within the meaning of
federal securities laws. These forward-looking statements are based on
management's current expectations and relate to, among other things, plans
regarding the use of proceeds from this offering of senior notes. Such forward-
looking statements are not guarantees of future performance and are subject to
risks, uncertainties and other factors, some of which are beyond MPC's control
and are difficult to predict. Any forward-looking projections or statements
should be considered in conjunction with the cautionary statements and factors
set forth under the heading "Risk Factors" in MPC's Annual Report on Form 10-K
for the year ended Dec. 31, 2014, and other reports filed with the SEC. In
addition, unpredictable or unknown factors not discussed here or in MPC's SEC
filings could also have material adverse effects on forward-looking statements.
Copies of MPC's Form 10-K are available on the SEC website or by contacting
MPC's Investor Relations office.
MPC Notes Pricing:
http://hugin.info/147922/R/1972016/721190.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: Marathon Petroleum Corporation via GlobeNewswire
[HUG#1972016]
Unternehmensinformation / Kurzprofil:
Datum: 07.12.2015 - 23:43 Uhr
Sprache: Deutsch
News-ID 438095
Anzahl Zeichen: 6203
contact information:
Town:
Findlay, Ohio
Kategorie:
Business News
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