OREANDA-NEWS. December 09, 2015.  Marathon Petroleum Corporation (NYSE: MPC) has priced \\$1.5 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering consisting of three series of senior notes:

  • \\$600 million aggregate principal amount of 2.700% senior notes due in 2018
  • \\$650 million aggregate principal amount of 3.400% senior notes due in 2020
  • \\$250 million aggregate principal amount of 5.850% senior notes due in 2045

The 2018 senior notes, the 2020 senior notes and the 2045 senior notes were offered at a price to the public of 99.920%, 99.872% and 99.747%, of par, respectively.

MPC intends to use the net proceeds from this offering to fund the repayment of all \\$750 million aggregate principal amount of its 3.500% senior notes due 2016, at maturity or otherwise, and for general corporate purposes, which may include investments in and advances to its affiliates and subsidiaries, including MPLX LP.

The closing of the senior notes offering is expected to occur on Dec. 14, 2015, subject to satisfaction of customary closing conditions.

J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Goldman, Sachs & Co.; and Mizuho Securities USA Inc. are acting as joint book-running managers for the 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, who are acting as representatives of the underwriters:

J.P. Morgan Securities LLC
Attention: High Grade Syndicate Desk - 3rd Floor
383 Madison Avenue
New York, NY 10179
212-834-4533

Merrill Lynch, Pierce, Fenner & Smith Incorporated
Attention: Prospectus Department
222 Broadway, 11th Floor
New York, NY 10038
Telephone: 1-800-294-1322
E-mail: dg.prospectus_requests@baml.com

Goldman, Sachs & Co.
Attention: Prospectus Department
200 West Street, New York, NY 10282
Telephone: 1-866-471-2526
Facsimile: 212-902-9316
E-mail: prospectus-ny@ny.email.gs.com.

Mizuho Securities USA Inc.
Attention: Debt Capital Markets
320 Park Avenue
New York, NY 10022
Telephone: 1-866-271-7403.

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.