MPLXP · MPLX Lp

MPLX LP has successfully replaced its existing $2.0 billion credit facility with a larger, $2.5 billion unsecured revolving credit agreement, enhancing its financial flexibility. The new facility, arranged by a syndicate of major financial institutions including Wells Fargo and JPMorgan, extends the partnership's credit capacity with a maturity date of April 7, 2031. This represents a significant extension compared to the replaced 2022 Credit Agreement. The agreement includes favorable terms such as an accordion feature allowing for an additional $1.0 billion in commitments subject to lender consent, and the ability to request two one-year maturity extensions. Financial covenants remain standard for the sector, requiring a Consolidated Total Debt to EBITDA ratio of no more than 5.0x (or 5.5x during acquisition periods). As of the filing date, there were no borrowings outstanding under either the old or new facilities, and the partnership reported $1.5 billion in cash and cash equivalents as of March 31, 2026, indicating strong liquidity.