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FINDLAY, Ohio, Nov 19, 2011 - (ACN Newswire) - Marathon Petroleum Corporation (NYSE: MPC) today announced the completion of a registered exchange offer to exchange $750,000,000 of its 3.5 percent senior notes due 2016, $1,000,000,000 of its 5.125 percent senior notes due 2021 and $1,250,000,000 of its 6.5 percent senior notes due 2041, all of which have been registered under the Securities Act of 1933 (the "new notes"), for an equal amount of its previously outstanding 3.5 percent senior notes due 2016, 5.125 percent senior notes due 2021 and 6.5 percent senior notes due 2041 (the "old notes"). The old notes were issued on Feb. 1, 2011 in a private placement exempt from registration under the Securities Act.
The exchange offer was completed on Nov. 18, 2011. Approximately 99.9 percent of the outstanding principal amount of the old notes were tendered and exchanged for the new notes. The exchange offer was made pursuant to a prospectus that was filed with the Securities and Exchange Commission as part of the company's registration statement on form S-4 that was declared effective by the Securities and Exchange Commission on Oct. 7, 2011.
The filing of the registration statement and the completion of the exchange offer satisfied the company's obligations under the registration rights agreement entered into in connection with the private placement of the old notes.
About Marathon Petroleum Corporation
MPC is the nation's fifth-largest refiner with a crude capacity in excess of 1.1 million barrels per day in its six-refinery system. Marathon brand gasoline is sold through approximately 5,100 independently owned locations across 18 states. In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation's fourth largest convenience store chain, with approximately 1,375 locations in seven states. MPC also owns, operates, leases or has ownership interest in approximately 9,600 miles of pipeline. MPC's fully integrated system provides operational flexibility to move crude oil, feedstocks and petroleum-related products efficiently through the company's distribution network in the Midwest, Southeast and Gulf Coast regions. For additional information about the company, please visit our website at http://www.marathonpetroleum.com .
Media Relations Contacts
Robert Calmus: +1-419-421-3127
Jamal Kheiry: +1-419-421-3312
Investor Relations Contacts
Pam Beall: +1-419-429-5640
Beth Hunter: +1-419-421-2559
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(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Marathon Petroleum Company via Thomson Reuters ONE
Copyright (c) Thomson Reuters 2011. All rights reserved.
Topic: Press release summary
Source: Marathon Petroleum Corporation
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