Phillips 66 Partners (PSXP) to Offer 6M Common Units
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Phillips 66 Partners LP (NYSE: PSXP) (the “Partnership”) today announced the commencement of an underwritten public offering of 6,000,000 common units representing limited partner interests in the Partnership. In connection with the offering, the Partnership will grant the underwriter a 30-day option to purchase up to an additional 900,000 common units.
The Partnership expects to use a portion of the net proceeds from the offering to fund its announced acquisition of additional equity interests in Explorer Pipeline and its contribution to the recently formed STACK Pipeline joint venture with Plains All American Pipeline, L.P. The Partnership expects to use the remaining proceeds, including net proceeds from any exercise of the underwriter’s option to purchase additional common units, for general partnership purposes, including funding of future acquisitions and organic projects and repayment of outstanding indebtedness.
RBC is acting as the sole book-running manager for the offering. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained, once available, by sending a request to:
RBC Capital Markets, LLC200 Vesey Street, 8th FloorNew York, NY 10281-8098Attention: Equity SyndicatePhone: 877-822-4089Email: email@example.com
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesRBC Capital, Crude Oil, Definitive Agreement
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