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MPLX to sell up to $1.74B of common units

MPLX LP entered into an amended and restated distribution agreement with a syndicate of sales agents to, from time to time, issue and sell up to $1.74 billion of common units, according to a March 13 SEC filing.

Sales of the common units, if any, will be made through ordinary broker transactions through the NYSE, any national security exchange or trading facility, through a market maker or directly on an electronic communication network. If the units are sold to any of the sales agents, MPLX will enter a separate agreement with the certain sales agent.

MPLX will pay the sales agents fixed-rate commission of up to 2% of the gross price per common unit and pay certain expenses connected to the offering.

JP Morgan Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch Pierce Fenner & Smith Inc., RBC Capital Markets LLC, UBS Securities LLC and Wells Fargo Securities LLC are agents for the offering.