Item 8.01 Other Events.
On June 8, 2020, Phillips 66, a Delaware corporation ("Phillips 66"), entered
into a Terms Agreement (including the provisions of the Underwriting Agreement
incorporated by reference in the Terms Agreement), dated June 8, 2020 (the
"Terms Agreement"), among Phillips 66, Phillips 66 Company, a Delaware
corporation and wholly owned subsidiary of Phillips 66 ("Phillips 66 Company"),
and the several Underwriters named in Schedule A to the Terms Agreement,
relating to the underwritten public offering by Phillips 66 of $150,000,000
aggregate principal amount of its 3.850% Senior Notes due 2025 (the "2025
Notes") and $850,000,000 aggregate principal amount of its 2.150% Senior Notes
due 2030 (the "2030 Notes" and, together with the 2025 Notes, the "Notes"), in
each case fully and unconditionally guaranteed by Phillips 66 Company, to be
issued pursuant to the Indenture, dated as of April 9, 2020 (the "Indenture"),
among Phillips 66, as issuer, Phillips 66 Company, as guarantor, and U.S. Bank
National Association, as trustee. The Indenture and the terms of the Notes are
further described under " Description of Notes " in the prospectus supplement
of Phillips 66 and Phillips 66 Company dated June 8, 2020, together with the
related prospectus dated July 26, 2019, as filed with the Securities and
Exchange Commission under Rule 424(b)(2) of the Securities Act of 1933 on June
9, 2020, which descriptions are incorporated herein by reference.
The 2025 Notes are an additional issuance of Phillips 66's 3.850% Senior Notes
due 2025 issued under the Indenture, pursuant to which Phillips 66 issued
$500,000,000 aggregate principal amount of 3.850% Senior Notes due 2025 on April
9, 2020 (the "Existing 2025 Notes"). The 2025 Notes are identical to, and will
be treated as a single class of debt securities with, the Existing 2025 Notes
under the Indenture.
A copy of the Terms Agreement (including the provisions of the Underwriting
Agreement incorporated by reference in the Terms Agreement), the Indenture and
the forms of the terms of Notes of each series have been filed as Exhibits
1.1 , 4.1 , 4.2 and 4.3 , respectively, to this report and are
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
1.1 - Terms Agreement (including the provisions of the Underwriting
Agreement incorporated by reference in the Terms Agreement), dated
June 8, 2020, among Phillips 66, Phillips 66 Company and the
several Underwriters named in Schedule A to the Terms Agreement.
4.1 - Indenture, dated as of April 9, 2020, among Phillips 66, as
issuer, Phillips 66 Company, as guarantor, and U.S. Bank National
Association, as trustee, in respect of senior debt securities of
Phillips 66 (incorporated by reference to Exhibit 4.1 to the
Current Report on Form 8-K of Phillips 66 dated April 7, 2020; File
No. 001-35349).
4.2 - Form of the terms of the 2025 Notes, including the form of the
2025 Note.
4.3 - Form of the terms of the 2030 Notes, including the form of the
2030 Note.
5.1 - Opinion of Bracewell LLP.
23.1 - Consent of Bracewell LLP (included in Exhibit 5.1 hereto).
104 - Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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