MPLX LP prices $2.25B senior notes offering in three tranches to refinance 2027 debt

Filed August 11, 2026 · ~2 min read

Key Changes

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  MPLX LP is issuing $2.25 billion of senior unsecured notes across three tranches: $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.

  The Offering verify on EDGAR →
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  Net proceeds of approximately $2.21 billion will be used to redeem $1.25 billion of 4.125% senior notes due March 2027, with the remaining ~$960 million for general partnership purposes including capital expenditures and working capital.

  Use of Proceeds verify on EDGAR →
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  The notes are structurally subordinated to all debt at MPLX LP's subsidiaries, meaning subsidiary creditors have priority claims on subsidiary assets before noteholders can access them in a liquidation or recapitalization.

  The Offering verify on EDGAR →