FINDLAY, Ohio, Feb. 5, 2018 /PRNewswire/ — Marathon Petroleum Corp. (NYSE: MPC) today announced that it intends to issue a notice of redemption to redeem all of the $600 million outstanding aggregate principal amount of its 2.700% senior notes due on Dec. 14, 2018. The 2018 senior notes will be redeemed on March 15, 2018, at a price equal to par plus a make-whole premium calculated in accordance with the terms of the 2018 senior notes and accrued and unpaid interest to, but not including, the redemption date.
This news release is for information purposes only and is neither an offer to buy nor a solicitation to sell any of the 2018 senior notes.
About Marathon Petroleum Corporation
MPC is the nation’s second-largest refiner, with a crude oil refining capacity of approximately 1.9 million barrels per calendar day in its six-refinery system. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation’s second-largest convenience store chain, with approximately 2,740 convenience stores in 21 states. Through subsidiaries, MPC owns the general partner of MPLX LP, a midstream master limited partnership. Primarily through MPLX, MPC owns, leases or has ownership interests in approximately 10,800 miles of crude oil and light product pipelines. Also through MPLX, MPC has ownership interests in gathering and processing facilities with approximately 5.9 billion cubic feet per day of gathering capacity, 8.2 billion cubic feet per day of natural gas processing capacity and 610,000 barrels per day of fractionation capacity. MPC’s fully integrated system provides operational flexibility to move crude oil, NGLs, feedstocks and petroleum-related products efficiently through the company’s distribution network and midstream service businesses in the Midwest, Northeast, East Coast, Southeast and Gulf Coast regions.
SOURCE Marathon Petroleum Corporation