Phillips 66 eyeing benchmark 20-, 30-year bonds; pricing Wednesday

By Aleesia Forni

Virginia Beach, Nov. 12 – Phillips 66 is planning to price a benchmark offering of senior notes on Wednesday in 20- and 30-year tranches, according to a market source and a 424B3 filed with the Securities and Exchange Commission.

MUFG, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and RBS Securities Inc. are the bookrunners.

Proceeds will be used to repay $800 million of the company’s outstanding 1.95% senior notes due 2015, for capital expenditures and for general corporate purposes.

The notes are guaranteed by Phillips 66 Co.

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

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