Phillips 66 subsidiary launches $1.8B senior notes offering; rates 4.95%-5.50%

Phillips 66

Phillips 66 Company issued $600M each of 5.250% notes due 2031 (additional), 4.950% due 2035, and 5.500% due 2055.
The notes are fully guaranteed by parent Phillips 66 and issued under a May 2022 indenture.
The Additional 2031 Notes are a further issuance of the $600M series from Feb 2024 and will be treated as a single series.
Offering is an underwritten public sale per Terms Agreement dated Sept 9, 2024 with several underwriters.

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