Phillips 66’s $3.2 Billion Debt Exchange Offers

Bracewell LLP represented Phillips 66 on the deal.

Phillips 66 announced its exchange offer up to $3.2 billion of seven series of notes previously issued by Phillips 66 Partners LP (PSXP) for new notes issued by Phillips 66 Company and guaranteed by Phillips 66. Through the exchange offers, the holders of old notes issued by PSXP were offered the opportunity to exchange their old notes for new notes issued by Phillips 66 Company with the same interest rates and maturities in light of the recent acquisition of PSXP by Phillips 66.  Phillips 66 also solicited consents from the holders of old notes to amend the related indentures.

Bracewell lawyers involved in the transaction included: Will Anderson (Picture),  Ian R. Brown, Shannon L. Baldwin and Brandon A. Bucio.

Involved fees earner: William Anderson – Bracewell LLP; Shannon Baldwin – Bracewell LLP; Ian Brown – Bracewell LLP; Brandon Bucio – Bracewell LLP;

Law Firms: Bracewell LLP;

Clients: Phillips 66 Partners LP;

Martina Bellini

Author: Martina Bellini