FINDLAY,
Ohio, Feb. 6, 2025 /PRNewswire/ -- Marathon
Petroleum Corporation (NYSE: MPC) announced today that it has
priced $2.0 billion in aggregate
principal amount of unsecured senior notes in an underwritten
public offering consisting of $1.1
billion aggregate principal amount of 5.15% senior notes due
2030 and $900 million aggregate
principal amount of 5.70% senior notes due 2035.
MPC intends to use the net proceeds from this offering to repay,
redeem or otherwise retire its outstanding $1.25 billion aggregate principal amount of
4.700% senior notes due May 2025 and
for general corporate purposes.
The closing of this offering is expected to occur on
February 10, 2025, subject to
satisfaction of customary closing conditions.
Wells Fargo Securities, LLC, Citigroup Global Markets Inc. and
MUFG Securities Americas Inc. are acting as joint book-running
managers for the offering.
MPC has filed a registration statement (including a prospectus
and related preliminary prospectus supplement for the offering)
with the Securities and Exchange Commission (the "SEC") for the
offering to which this communication relates. Before investing,
investors should read the preliminary prospectus supplement, the
accompanying prospectus in that registration statement and the
other documents MPC has filed with the SEC for more complete
information about MPC and this offering. Investors may get these
documents for free by visiting EDGAR on the SEC's website at
www.sec.gov. Alternatively, MPC, any underwriter or any dealer
participating in the offering will arrange to send investors the
preliminary prospectus supplement and the accompanying prospectus
upon request by contacting the following, which are acting as
representatives of the underwriters:
Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Minneapolis, MN 55402
Attn: WFS Customer Service
Toll-free: 1-800-645-3751
Email: wfscustomerservice@wellsfargo.com
Citigroup Global Markets Inc.
Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Toll-free: 1-800-831-9146
Email: prospectus@citi.com
MUFG Securities Americas Inc.
Attn: Capital Markets Group
1221 Avenue of the Americas, 6th Floor
New York, NY 10020
Toll-free: 1-877-649-6848
Email: syndicate@us.sc.mufg.jp
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
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. 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.
Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President
Finance and Investor Relations
Brian Worthington, Director,
Investor Relations
Alyx Teschel, Manager, Investor
Relations
Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager
View original
content:https://www.prnewswire.com/news-releases/marathon-petroleum-corp-prices-2-0-billion-senior-notes-offering-302370740.html
SOURCE Marathon Petroleum Corporation
