MPLX LP (NYSE: MPLX) has priced $2.25 billion in aggregate principal amount of unsecured senior notes in an underwritten public offering, according to a press release from the Findlay, Ohio-based company.

The offering consists of three tranches: $1.25 billion of 4.700% senior notes due 2029, $500 million of 5.000% senior notes due 2032, and $500 million of 5.500% senior notes due 2036. The closing is expected to occur on Aug. 24, 2026, subject to customary closing conditions.

MPLX said it intends to use $1.25 billion of the net proceeds to redeem, repay, or otherwise extinguish its outstanding 4.125% senior notes due March 2027. The company said the remaining proceeds will be used for general partnership purposes, which may include capital expenditures and working capital.

TD Securities (USA) LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc., and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.