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MPLX files to sell $1.74B of common units

MPLX LP registered up to $1.74 billion of its common units, to be sold from time to time depending on market conditions.

The securities are composed of $1.50 billion of newly registered common units and about $241.0 million of unsold common units previously registered on March 27, 2015. The units would be sold at prices and on terms to be determined by market conditions and other factors, according to an Oct. 6 SEC filing.

MPLX plans to use the proceeds from any sale of the units for general partnership purposes, such as debt refinancing, funding acquisitions and CapEx.