Phillips 66 prepares to offer single tranche of senior notes

Chicago, Nov. 10 – Phillips 66 is offering one tranche of senior notes, according to a 424B3 filing with the Securities and Exchange Commission on Wednesday morning.

The notes will be guaranteed by Phillips 66 Co.

If the company decides to redeem the notes early, there will be a make-whole premium until a number of months before the maturity date when the company can optionally redeem the notes early at par.

TD Securities (USA) LLC, BNP Paribas Securities Corp., J.P. Morgan Securities LLC, MUFG, Scotia Capital (USA) Inc., and SMBC Nikko Securities America, Inc. are working as bookrunners.

Bracewell LLP is advising the issuer.

U.S. Bank NA is the trustee.

Proceeds will be used to redeem the $1 billion of 4.3% senior notes due 2022.

Phillips 66 is a Houston-based energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses.

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