Marathon Petroleum Corp. Successfully Prices $2 Billion Notes

Author: Evelyn Baker Updated: 02-06-2025 05:54 PM

Marathon Petroleum Corporation Announces Senior Notes Offering

Marathon Petroleum Corporation (NYSE: MPC) has announced a significant development regarding its financial strategy. The company has priced $2.0 billion in unsecured senior notes, which stands to enhance its financial foundation. This public offering consists of two distinct tranches: $1.1 billion of 5.15% senior notes due in 2030, and $900 million of 5.70% senior notes due in 2035.

Utilization of Proceeds from the Offering

The net proceeds from this offering are set to be utilized primarily for several critical financial strategies. This includes repaying or redeeming its existing 4.700% senior notes totaling $1.25 billion, which are due in May 2025. Additionally, the remaining funds will be directed towards general corporate purposes to further support and streamline its operational functions.

Expected Closing and Participation

The consolidation of this offering is expected on February 10, 2025, contingent upon fulfilling customary closing conditions. The renowned firms Wells Fargo Securities, LLC, Citigroup Global Markets Inc., and MUFG Securities Americas Inc. will serve as joint book-running managers for this notable transaction.

Investor Considerations

Marathon Petroleum Corporation has submitted a registration statement that includes a prospectus relating to the offering with the Securities and Exchange Commission (SEC). It is essential for potential investors to review the preliminary prospectus and other related documents to gain comprehensive insights about the company and the particulars of this offering.

About Marathon Petroleum Corporation

Marathon Petroleum Corporation is a leading player in the energy sector, specifically in downstream operations. It boasts the nation's largest refining system and a wide-reaching marketing network with branded locations, including Marathon retail outlets throughout the United States. Furthermore, the company holds the majority interest in MPLX LP, a midstream entity specializing in gathering, processing, and transportation logistics for energy products.

Contact Information for Investors

For inquiries related to investor relations, individuals can contact Kristina Kazarian, Vice President of Finance and Investor Relations, at (419) 421-2071. Other team members include Brian Worthington, Director of Investor Relations, and Alyx Teschel, Manager of Investor Relations.

Media Contact at Marathon Petroleum

For media inquiries, Jamal Kheiry, Communications Manager, can be reached at (419) 421-3577.

Frequently Asked Questions

What is the purpose of the $2 billion senior notes offering?

The offering is aimed at enhancing Marathon Petroleum's financial strategy, including repaying existing debts and supporting corporate activities.

When is the expected closing date for the offering?

The offering is anticipated to close on February 10, 2025, pending any customary conditions that need to be met.

Who are the underwriters involved in this offering?

Wells Fargo Securities, LLC, Citigroup Global Markets Inc., and MUFG Securities Americas Inc. are acting as joint book-running managers.

What types of senior notes are being offered?

The offering consists of $1.1 billion in 5.15% senior notes due in 2030 and $900 million in 5.70% senior notes due in 2035.

How can investors access the offering documents?

Investors can access the offering documents through the SEC's EDGAR database or may request them directly from the underwriters involved in the offering.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

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