MPLX LP launched an underwritten public offering of senior notes to repay the principal amount and accrued interest on a $4.1 billion term loan it took out Feb. 1, according to a Feb. 5 news release.
Remaining net proceeds from the offering will be used to repay revolver debt and the intercompany loan agreement with Marathon Petroleum Corp. and for general partnership purposes, which may include acquisition, CapEx and distribution payments, the company said.
Merrill Lynch Pierce Fenner & Smith Inc., Barclays Capital Inc. and Mizuho Securities USA LLC are acting joint global coordinators and book-running managers for the offering, while J.P. Morgan Securities LLC, MUFG Securities Americas Inc., Wells Fargo Securities LLC, Citigroup Global Markets Inc., RBC Capital Markets LLC, BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc., SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC, UBS Securities LLC and U.S. Bancorp Investments Inc. are acting joint book-running managers.
