MPLX (MPLX) said Monday that it priced a $2 billion underwritten public offering of unsecured senior notes.
The offering includes $1 billion of 5.4% senior notes due 2035 and $1 billion of 5.95% senior notes due 2055, according to the company.
Net proceeds from the offering will be used to repay, redeem or retire some or all of the company's outstanding $1.19 billion 4.875% senior notes due June 2025 and MarkWest's outstanding $11 million 4.875% senior notes due June 2025, MPLX added.
Additionally, the funds will be used for general partnership purposes.
MPLX expects to close the offering on March 10.
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