MPLX to redeem $1 billion in notes from two series

By Mary-Katherine Stinson

Lexington, Ky., Aug. 15 – MPLX LP will redeem in full all $500 million outstanding of its 3.5% senior notes due Dec. 1, 2022 and all $500 million outstanding of its 3.375% senior notes due March 15, 2023, according to a notice Monday.

The redemption of the 2022 notes includes the portion issued by Andeavor Logistics LP and Tesoro Logistics Finance Corp.

The 2022 notes are expected to be redeemed at the greater of a make-whole payment or par plus accrued interest on or about Aug. 15.

The 2023 notes are expected to be redeemed at the greater of a make-whole payment or par on or about Sept. 15, with the semiannual interest payment due on Sept. 15 being paid on Sept. 1.

MPLX is a Findlay, Ohio-based owner, operator and developer of crude oil pipeline and midstream assets in the United States.

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