MPLX LP (MPLX): debt financing — MPLX enters $2.5B revolving credit facility, reports $1.5B cash as of March 31, 2026

MPLX LP

New $2.5B unsecured revolving credit facility matures April 7, 2031; replaces $2.0B 2022 facility with no borrowings outstanding.
Preliminary cash and cash equivalents of $1.5B as of March 31, 2026, disclosed as unaudited estimate.
Interest rates: Adjusted Term SOFR + 100-175 bps or Alternate Base Rate + 0-75 bps, tied to credit ratings.
Leverage covenant: Consolidated Total Debt/EBITDA ≤ 5.0x (5.5x during acquisition periods).
Option to increase commitments by up to $1.0B and request two one-year maturity extensions with lender consent.

item 1.01 item 1.02 item 2.02 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

MPLX LP incurred revolving credit of $2.5 billion with Wells Fargo Bank, National Association, as administrative agent, and other lenders at Adjusted Term SOFR plus a margin ranging from 100.0 basis points to 175.0 basis maturing April 7, 2031.

Instrument: revolving credit
Principal: $2.5 billion
Counterparty: Wells Fargo Bank, National Association, as administrative agent, and other lenders
Rate: Adjusted Term SOFR plus a margin ranging from 100.0 basis points to 175.0 basis
Maturity: April 7, 2031
Event: incurrence

Exact text from the filing

On April 7, 2026, MPLX LP, a Delaware master limited partnership (“MPLX”), entered into a $2.5 billion, five-year Revolving Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, each of Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., Goldman Sachs Banks USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., RBC Capital Markets, Sumitomo Mitsui Banking Corporation and TD Securities (USA) LLC, as joint lead arrangers and joint bookrunners, JPMorgan Chase Bank, N.A., as syndication agent, each of Bank of America, N.A., Barclays Bank PLC, Citibank, N.A., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., Royal Bank of Canada, Sumitomo Mitsui Banking Corporation and The Toronto-Dominion Bank, New York Branch, as documentation agents, and the other lenders and issuing banks that are parties thereto (the “New MPLX Credit Agreement”).

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

MPLX LP reported preliminary financial results for the quarter ended March 31, 2026.

Period: the quarter ended March 31, 2026
Result: preliminary results

Exact text from the filing

MPLX’s preliminary estimate of its cash and cash equivalents as of March 31, 2026, is incorporated herein by reference. Such information is unaudited and preliminary and does not present all information necessary for an understanding of the MPLX’s results of operations for the quarter ended March 31, 2026.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MPLX LP terminated 2022 Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and the various other commercial lending institutions that were party thereto valued at $2.0 billion (effective 2026-04-07).

Action: termination
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent, and the various other commercial lending institutions that were party thereto
Value: $2.0 billion
Effective: 2026-04-07

Exact text from the filing

The New MPLX Credit Agreement replaced MPLX’s previously existing $2.0 billion credit agreement, dated as of July 7, 2022 (the “2022 Credit Agreement”), by and among MPLX, Wells Fargo Bank, National Association, as administrative agent, and the various other commercial lending institutions that were party thereto. The 2022 Credit Agreement was terminated in connection with and as a condition to the availability of the lending and credit commitments under the New MPLX Credit Agreement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MPLX LP entered into New MPLX Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, each of Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., Goldman Sachs Banks USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., RBC Capital Markets, Sumitomo Mitsui Banking Corpora valued at $2.5 billion (effective 2026-04-07).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent, each of Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., Barclays Bank PLC, BofA Securities, Inc., Citibank, N.A., Goldman Sachs Banks USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., RBC Capital Markets, Sumitomo Mitsui Banking Corpora
Value: $2.5 billion
Effective: 2026-04-07

Exact text from the filing

On April 7, 2026, MPLX LP, a Delaware master limited partnership (“MPLX”), entered into a $2.5 billion, five-year Revolving Credit Agreement with Wells Fargo Bank, National Association, as administrative agent

View on SEC.gov

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Source: SEC EDGAR

accession 0001552000-26-000017

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