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FINDLAY, Ohio, May 19, 2021 /PRNewswire/ Marathon Petroleum Corp. (NYSE: MPC) today announced the redemption of all of the $300 million outstanding aggregate principal amount of its 5.125% senior notes due April 1, 2024, including the portion of such notes for which Andeavor LLC, a wholly-owned subsidiary of MPC, is the obligor. The redemption of the 2024 senior notes is part of MPC s previously announced plans to reduce long-term structural debt.
The 2024 senior notes are being redeemed at a price equal to 100.854% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date. The portion of the 2024 senior notes issued by MPC is expected to be redeemed on June 18, 2021. The portion of the 2024 senior notes for which Andeavor LLC is the obligor is expected to be redeemed on June 1, 2021.
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