8-K filed March 18, 2026, 7:59 PM ET ticker PSX CIK 0001534701

debt confidence high sentiment neutral materiality 0.60

Phillips 66 secures $2.25B term loan, boosts receivables facility to $1.75B

Phillips 66

Borrowed $2.25B under 364-day term loan on March 18, 2026; entire amount drawn at closing.
Interest on term loan is Term SOFR + 1.100% or reference rate + 0.100%; guaranteed by Phillips 66.
Amended receivables facility to increase maximum from $1.25B to $1.75B, with potential future increase to $2.0B.
Loan covenants include maximum consolidated net debt-to-capitalization ratio of 65%.
Proceeds used for general corporate purposes; customary events of default apply.

item 1.01 item 2.03 item 9.01

Machine-readable event card

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accession: 0001193125-26-114070
form_type: 8-K
ticker: PSX
cik: 0001534701
company_name: Phillips 66
filed_at: 2026-03-18T23:59:59+00:00
discovered_at: 2026-05-14T18:02:35.363955+00:00
generated_at: 2026-05-15T09:51:12.588429+00:00
sec_items: ["1.01", "2.03", "9.01"]
event_type: debt
sentiment: neutral
materiality_score: 0.6
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confidence: high
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Source-grounded claims

8527f9efa0f0b9791a51c8b471cfeed067a6a8a6

Phillips 66 amended debt of increase the maximum facility size from $1.25 billion to $1.75 billion and permit a future increase to up to $2.0 billio with PNC Bank, National Association, as administrative agent.

The Receivables Facility Amendment amends the RPFA to, among other things, (i) increase the maximum facility size from $1.25 billion to $1.75 billion and (ii) permit the SPE to request a future increase in the maximum facility size to up to $2.0 billion.

SEC 8-K Item 2.03/2.04 confidence 0.9 SEC evidence

a910b7f3dfb2475550dbd8ea677a209083d08a8d

Phillips 66 incurred term loan of $2.25 billion with Mizuho Bank, Ltd., as administrative agent at Term SOFR plus an applicable margin of 1.100% or the reference rate plus an appl maturing 364 days after the Term Loan Closing Date.

On March 18, 2026 (the "Term Loan Closing Date"), Phillips 66 Company (the "Company"), a wholly owned subsidiary of Phillips 66 ("Phillips 66"), entered into a 364-day, $2.25 billion term loan credit agreement with a syndicate of banks and other financial institutions party thereto and Mizuho Bank, Ltd., as administrative agent (the "Term Loan Agreement").

SEC 8-K Item 2.03/2.04 confidence 0.9 SEC evidence

b82eb0380fed872463626cd4cf7aeb269e5ffbdf

Phillips 66 entered into Term Loan Agreement with Mizuho Bank, Ltd., as administrative agent valued at $2.25 billion (effective 2026-03-18).

On March 18, 2026 (the “Term Loan Closing Date”), Phillips 66 Company (the “Company”), a wholly owned subsidiary of Phillips 66 (“Phillips 66”), entered into a 364-day, $2.25 billion term loan credit agreement with a syndicate of banks and other financial institutions party thereto and Mizuho Bank, Ltd., as administrative agent (the “Term Loan Agreement”).

SEC 8-K Item 1.01/1.02 confidence 0.9 SEC evidence

c38bfcdef97a54885459d29bcab843dce62c3ec0

Phillips 66 entered into Fourth Amendment to Receivables Purchase and Financing Agreement with PNC Bank, National Association, as administrative agent valued at $1.75 billion (effective 2026-03-13).

On March 13, 2026, the Company amended the Company’s accounts receivable securitization program. In connection therewith, the Company entered into the Fourth Amendment to Receivables Purchase and Financing Agreement (the “Receivables Facility Amendment”) to amend its existing Receivables Purchase and Financing Agreement dated September 30, 2024 (as amended, the “RPFA”), among the Company, as servicer, Phillips 66 Receivables LLC, as SPE (the “SPE”), the purchaser/lenders party thereto from time to time, PNC Capital Markets LLC, as structuring agent, and PNC Bank, National Association, as administrative agent.

SEC 8-K Item 1.01/1.02 confidence 0.9 SEC evidence

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The Receivables Facility Amendment amends the RPFA to, among other things, (i) increase the maximum facility size from $1.25 billion to $1.75 billion and (ii) permit the SPE to request a future increase in the maximum facility size to up to $2.0 billion.

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The Receivables Facility Amendment amends the RPFA to, among other things, (i) increase the maximum facility size from $1.25 billion to $1.75 billion and (ii) permit the SPE to request a future increase in the maximum facility size to up to $2.0 billion.

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The Receivables Facility Amendment amends the RPFA to, among other things, (i) increase the maximum facility size from $1.25 billion to $1.75 billion and (ii) permit the SPE to request a future increase in the maximum facility size to up to $2.0 billion.

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Source: SEC EDGAR

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