FINDLAY, Ohio, Sept. 25, 2020 /PRNewswire/ -- Marathon
Petroleum Corporation (NYSE: MPC) and MPLX LP (NYSE: MPLX) today
announced the redemption of (i) all of the $650 million outstanding aggregate principal
amount of MPC's 3.400% senior notes due Dec.
15, 2020, and (ii) all of the $300
million outstanding aggregate principal amount of MPLX's
6.250% senior notes due Oct. 15,
2022, including the approximately $34
million in aggregate principal amount of senior notes issued
by Andeavor Logistics LP and Tesoro Logistics Finance Corp.
The MPC 2020 senior notes will be redeemed on Nov. 15, 2020, at a price equal to par, plus
accrued and unpaid interest to, but not including, such date. The
MPLX 2022 senior notes will be redeemed on Oct. 15, 2020, at par. The regular semiannual
interest payment due on the MPLX 2022 senior notes on Oct. 15, 2020, will be paid in the usual manner
to holders of record at the close of business on Oct. 1, 2020. MPLX had previously announced that
it intended to redeem the MPLX 2022 senior notes with the proceeds
of a recently completed senior notes offering.
This news release is for informational purposes only and is
neither an offer to buy nor a solicitation to sell any of the MPC
2020 senior notes or the MPLX 2022 senior notes. The foregoing does
not constitute a notice of redemption under the indentures
governing either the MPC 2020 senior notes or the MPLX 2022 senior
notes, respectively, and is qualified in its entirety by the
redemption notices distributed to the holders of the MPC 2020
senior notes and MPLX 2022 senior notes under such indentures.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation (MPC) is a leading, integrated,
downstream energy company headquartered in Findlay, Ohio. The company operates the
nation's largest refining system. MPC's marketing system includes
branded locations across the United
States, including Marathon brand retail outlets. Speedway
LLC, an MPC subsidiary, owns and operates retail convenience stores
across the United States. MPC also
owns the general partner and majority limited partner interest in
MPLX LP, a midstream company that owns and operates gathering,
processing, and fractionation assets, as well as crude oil and
light product transportation and logistics infrastructure. More
information is available at www.marathonpetroleum.com.
About MPLX LP
MPLX is a diversified, large-cap master limited partnership that
owns and operates midstream energy infrastructure and logistics
assets, and provides fuels distribution services. MPLX's assets
include a network of crude oil and refined product pipelines; an
inland marine business; light-product terminals; storage caverns;
refinery tanks, docks, loading racks, and associated piping; and
crude and light-product marine terminals. The company also owns
crude oil and natural gas gathering systems and pipelines as well
as natural gas and NGL processing and fractionation facilities in
key U.S. supply basins. More information is available at
www.MPLX.com.
Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President,
Investor Relations
Taryn Erie, Manager, Investor
Relations
Brian Worthington, Manager, Investor
Relations
Media Contacts:
Hamish
Banks, Vice President, Corporate Communications (419)
421-2521
Jamal Kheiry, Manager, Corporate Communications (419) 421-3312
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SOURCE Marathon Petroleum Corporation; MPLX LP