Form FWP MPLX LP Filed by: MPLX LP
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Filed Pursuant to Rule 433
Registration No. 333-248443
August 8, 2022
Supplementing the Preliminary
Prospectus Supplement dated August 8, 2022
(To Prospectus dated August 27, 2020)
Final Pricing Term Sheet
August 8, 2022
$1,000,000,000 4.950% Senior Notes due 2032
|Expected Ratings (Moodys / S&P / Fitch)*:||Baa2 (stable) / BBB (stable) / BBB (stable)|
|Net proceeds (before expenses) to the Issuer:||$987,830,000|
|Trade Date:||August 8, 2022|
|Settlement Date**:||August 11, 2022 (T+3)|
|Maturity Date:||September 1, 2032|
|Price to Public:||99.433% of the principal amount plus accrued interest, if any, from August 11, 2022|
|Yield to Maturity:||5.022%|
|Spread to Benchmark Treasury:||+225 bps|
|Benchmark Treasury:||2.875% due May 15, 2032|
|Benchmark Treasury Price / Yield:||100-28 / 2.772%|
|Interest Payment Dates:||March 1 and September 1, commencing March 1, 2023, to holders of record at the close of business on the preceding February 15 and August 15, respectively|
|Optional Redemption Provisions:|
|T+35 bps (at any time before June 1, 2032)|
|At any time on or after June 1, 2032|
|CUSIP / ISIN:||55336V BU3 / US55336VBU35|
|Joint Book-Running Managers:|| |
Barclays Capital Inc.
Mizuho Securities USA LLC
Wells Fargo Securities, LLC
BofA Securities, Inc.
Citigroup Global Markets Inc.
J.P. Morgan Securities LLC
MUFG Securities Americas Inc.
RBC Capital Markets, LLC
TD Securities (USA) LLC
Truist Securities, Inc.
Scotia Capital (USA) Inc.
SMBC Nikko Securities America, Inc.
U.S. Bancorp Investments, Inc.
BNP Paribas Securities Corp.
PNC Capital Markets LLC
Fifth Third Securities, Inc.
Huntington Securities, Inc.
Morgan Stanley & Co. LLC
Comerica Securities, Inc.
Siebert Williams Shank & Co., LLC
Loop Capital Markets LLC
BNY Mellon Capital Markets, LLC
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) and a prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc., telephone: (toll-free) 1-888-603-5847; Mizuho Securities USA LLC, telephone: (toll-free) 1-866-271-7403; or Wells Fargo Securities, LLC, telephone: (toll-free) 1-800-645-3751.
Any legends, disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of this communication having been sent via Bloomberg or another system.
It is expected that delivery of the notes will be made against payment therefor on or about August 11, 2022, which is the third business day following the date hereof (such settlement cycle being referred to as T+3). Under Rule 15c6-1 under the Exchange Act, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes prior to the date that is two business days prior to the settlement date will be required, by virtue of the fact that the notes initially will settle in T+3, to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the notes prior to their date of delivery hereunder should consult their own advisors.
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