MPLX to redeem $1B senior notes

• MPLX (NYSE:MPLX) plans to redeem all $500M outstanding aggregate principal amount of its 3.500% senior notes due Dec. 1, 2022 and $500M of its 3.375% senior notes due March 15, 2023.
• The 2022 senior notes are expected to be redeemed around Aug. 25, 2022 at a price equal to the greater of par or the make-whole payment calculated in accordance with the terms of the 2022 senior notes, plus accrued and unpaid interest to, but not including, the redemption date.
• The 2023 senior notes are expected to be redeemed around Sept. 15, 2022 at a price equal to the greater of par or the make-whole payment calculated in accordance with the terms of the 2023 senior notes.
• The regular semiannual interest payment due on the 2023 senior notes on Sept. 15, 2022, will be paid in the usual manner to holders of record at the close of business on Sept. 1, 2022.