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Phillips 66 Partners Commences Public Offering
Phillips 66 Partners LP has commenced an underwritten public offering of three series of unsecured senior notes pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. The actual terms of each series of unsecured senior notes, including principal amount, interest rate and maturity, will depend on market and other conditions.
The Partnership expects to use the net proceeds from this offering
- to pay a portion of the cash consideration payable by the Partnership in its previously announced acquisition of Phillips 66’s equity interests in the Sand Hills and Southern Hills natural gas liquids pipeline systems and the Explorer refined products pipeline system and
- for general partnership purposes, including repayment of certain sponsor loans and other outstanding indebtedness and to fund capital expenditures.
The closing of this offering is not conditioned on the closing of the Pipeline Transaction.
RBS, Barclays, Goldman, Sachs & Co. and RBC Capital Markets are acting as the joint book-running managers for this offering.
Announced Date
February 18,2015
Type
Equity-Stock-Sales
Use of Fund
Fund Acquisition,Debt Reduction
Company
Phillips 66 Partners LP
Underwriter
/Book Runner
/Book Runner
RBSA Advisory Pvt. Ltd.,Goldman Sachs Group Inc,RBC Capital Markets
Regions
United States
Country
United States
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