MPLX LP prices $2.25 billion senior notes offering

Q: What are the key terms of MPLX (NYSE: MPLX) $2.25 billion senior notes offering announced in August 2026?

MPLX priced $2.25 billion of unsecured senior notes across 2029, 2032, and 2036 maturities. According to MPLX, coupons are 4.700% on $1.25 billion due 2029, 5.000% on $500 million due 2032, and 5.500% on $500 million due 2036.

Q: When is the closing date for MPLX’s $2.25 billion senior notes offering?

The offering is expected to close on August 24, 2026 , subject to customary closing conditions. According to MPLX, completion depends on standard conditions typically applied to underwritten public debt offerings in U.S. capital markets.

Q: What interest rates will MPLX pay on the new senior notes issued in August 2026?

MPLX will pay 4.700% on notes due 2029, 5.000% on notes due 2032, and 5.500% on notes due 2036. According to MPLX, these coupons apply to principal amounts of $1.25 billion, $500 million, and $500 million respectively.

Q: How does MPLX’s new 2029 senior notes coupon compare to its existing 2027 notes?

The new 2029 notes carry a 4.700% coupon versus 4.125% on the 2027 notes targeted for redemption. According to MPLX, net proceeds will be used to redeem, repay or extinguish $1.25 billion of those 2027 senior notes.

Q: Which banks are underwriting the MPLX (MPLX) $2.25 billion senior notes offering?

Joint book-running managers are TD Securities (USA) , Goldman Sachs & Co. , J.P. Morgan Securities , SMBC Nikko Securities America , and Wells Fargo Securities . According to MPLX, these banks are acting as representatives of the underwriters for the transaction.

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Neutral)

Rhea-AI Summary

MPLX LP (NYSE: MPLX) has priced a $2.25 billion underwritten public offering of unsecured senior notes. The deal includes $1.25 billion of 4.700% notes due 2029, $500 million of 5.000% notes due 2032, and $500 million of 5.500% notes due 2036.

MPLX intends to use the net proceeds to redeem, repay or extinguish its outstanding $1.25 billion 4.125% senior notes due March 2027 and to fund general partnership purposes, including potential capital expenditures and working capital. Closing is expected on August 24, 2026, subject to customary conditions.

Positive

$2.25 billion total senior notes priced across 2029, 2032 and 2036 maturities
Plans to redeem or repay $1.25 billion of 4.125% senior notes due March 2027
Staggered maturities to 2029, 2032 and 2036 provide long-term fixed-rate funding

Negative

Refinancing 2027 notes with new 2029 notes carrying a higher 4.700% coupon versus 4.125%
Remaining proceeds beyond the $1.25 billion 2027 note redemption earmarked broadly for general partnership purposes

News Explained

The $2.25 billion notes offering is priced but not yet closed: underwriters will buy the notes from MPLX for resale, and the planned proceeds would refinance the 2027 Notes while leaving the remainder for general partnership purposes; this release is not a redemption notice.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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08/10/2026 - 06:10 PM

FINDLAY, Ohio, Aug. 10, 2026 /PRNewswire/ -- MPLX LP (NYSE: MPLX) announced today that it has priced $2.25 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of $1.25 billion aggregate principal amount of 4.700% senior notes due 2029, $500 million aggregate principal amount of 5.000% senior notes due 2032 and $500 million aggregate principal amount of 5.500% senior notes due 2036.

MPLX intends to use the net proceeds from this offering to redeem, repay or otherwise extinguish MPLX's outstanding $1.25 billion aggregate principal amount of 4.125% senior notes due March 2027 (the "2027 Notes") and intends to use the remaining net proceeds for general partnership purposes, which may include capital expenditures and working capital. This news release is not a notice of redemption with respect to the 2027 Notes.

The closing of this offering is expected to occur on August 24, 2026, subject to the satisfaction of customary closing conditions.

TD Securities (USA) LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for this offering.

This offering is being made only by means of a prospectus and related prospectus supplement, which may be obtained for free by visiting the Securities and Exchange Commission's website at http://www.sec.gov. Alternatively, copies may be obtained by contacting the following, which are acting as representatives of the underwriters:

TD Securities (USA) LLC
1 Vanderbilt Avenue, 11th Floor
New York, New York 10017
Attn: DCM-Transaction Advisory
Toll-free: 1-855-495-9846

Goldman Sachs & Co. LLC
200 West Street
New York, New York 10282-2198
Attn: Prospectus Department
Toll-free: 1-866-471-2526
Facsimile: 212-902-9316
Email: Prospectus-ny@ny.email.gs.com

J.P. Morgan Securities LLC
270 Park Avenue
New York, New York 10017
Attn: Investment Grade Syndicate Desk
Collect: 1-212-834-4533
Email: prospectus-eq_fi@jpmchase.com; postsalemanualrequests@broadridge.com

SMBC Nikko Securities America, Inc.
277 Park Avenue
New York, New York 10172
Toll-free: 1-888-868-6856
Email: prospectus@smbcnikko-si.com

Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Minneapolis, MN 55402
Attn: WFS Customer Service
Email: wfscustomerservice@wellsfargo.com
Toll-Free: 1-800-645-3751

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 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.

Investor Relations Contacts: (419) 421-2071
Brian Worthington, Vice President, Investor Relations
Isaac Feeney, Director, Investor Relations
Evan Heminger, Analyst, Investor Relations

Media Contact: (419) 421-3577
Jamal Kheiry, Communications Manager

View original content:https://www.prnewswire.com/news-releases/mplx-lp-prices-2-25-billion-senior-notes-offering-302847540.html

SOURCE MPLX LP

FAQ

What are the key terms of MPLX (NYSE: MPLX) $2.25 billion senior notes offering announced in August 2026?

MPLX priced $2.25 billion of unsecured senior notes across 2029, 2032, and 2036 maturities. According to MPLX, coupons are 4.700% on $1.25 billion due 2029, 5.000% on $500 million due 2032, and 5.500% on $500 million due 2036.

How does MPLX plan to use the proceeds from its $2.25 billion senior notes offering?

MPLX plans to use net proceeds mainly to redeem, repay or extinguish $1.25 billion of 4.125% senior notes due March 2027. According to MPLX, remaining proceeds will support general partnership purposes, including possible capital expenditures and working capital needs.

When is the closing date for MPLX’s $2.25 billion senior notes offering?

The offering is expected to close on August 24, 2026, subject to customary closing conditions. According to MPLX, completion depends on standard conditions typically applied to underwritten public debt offerings in U.S. capital markets.

What interest rates will MPLX pay on the new senior notes issued in August 2026?

MPLX will pay 4.700% on notes due 2029, 5.000% on notes due 2032, and 5.500% on notes due 2036. According to MPLX, these coupons apply to principal amounts of $1.25 billion, $500 million, and $500 million respectively.

How does MPLX’s new 2029 senior notes coupon compare to its existing 2027 notes?

The new 2029 notes carry a 4.700% coupon versus 4.125% on the 2027 notes targeted for redemption. According to MPLX, net proceeds will be used to redeem, repay or extinguish $1.25 billion of those 2027 senior notes.

Which banks are underwriting the MPLX (MPLX) $2.25 billion senior notes offering?

Joint book-running managers are TD Securities (USA), Goldman Sachs & Co., J.P. Morgan Securities, SMBC Nikko Securities America, and Wells Fargo Securities. According to MPLX, these banks are acting as representatives of the underwriters for the transaction.