Phillips 66 enters $500M accounts receivable securitization facility

Phillips 66

364-day $500M facility through SPE Phillips 66 Receivables LLC, guaranteed by Phillips 66.
Facility secured by trade receivables; interest based on SOFR (Term SOFR or Daily Simple SOFR).
PNC Bank serves as administrative agent; PNC Capital Markets as structuring agent.
No amounts outstanding ($0) as of September 30, 2024 closing.
Replaces or supplements existing liquidity; initial 364-day term extendable.

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