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Marathon Petroleum completes $1.95 billion bond offering

September 2014

Client(s) Marathon Petroleum Corporation

Jones Day represented Marathon Petroleum Company, a leading oil refining, marketing, and pipeline transport company, in connection with the public offering of $1.95 billion Senior Notes, consisting of $750 million of 3.625% Senior Notes due 2024, $800 million of 4.75% Senior Notes due 2044, and $400 million of 5.00% Senior Notes due 2054. Marathon expects to use the net proceeds from the offering to finance, in part, the pending acquisition of Hess Retail Holdings LLC, a wholly-owned subsidiary of Hess Corporation, by Speedway LLC, Marathon’s wholly-owned subsidiary.

Mitsubishi UFJ Securities (USA), Inc.; RBS Securities Inc.; Citigroup Global Markets Inc.; and Morgan Stanley & Co. LLC acted as representatives of the underwriters.

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