Marathon Petroleum has raised $3 billion in a sale of debt in three parts in the private placement rule 144a market, The Wall Street Journal reports. The company intends to use the net proceeds to repay intercompany debt, to pay a special distribution to Houston-based Marathon Oil and for general corporate purposes. The integrated energy company appointed JP Morgan Chase and Morgan Stanley as the joint bookrunning managers for the sale. The $750 million notes are due to mature in five years, the $1 billion notes in 10 years and the $1.25 billion bonds in 30 years.
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