Phillips 66 Partners LP - 2015-02-23

Priced senior notes due 2020 at par, notes due 2025 at 99.967% of par and notes due 2045 at 99.954% of par in an underwritten public offering. Proceeds will be used to fund its acquisition of Phillips 66’s equity interests in the Sand Hills and Southern Hills NGL pipeline systems and the Explorer refined products pipeline system and for general partnership purposes. RBS, Barclays, Goldman, Sachs & Co. and RBC Capital Markets are joint book-running managers. BofA Merrill Lynch, DNB Markets, Deutsche Bank Securities, J.P. Morgan and PNC Capital Markets LLC are passive book-runners. BNP PARIBAS, Lloyds Securities, Mizuho Securities, Morgan Stanley, Scotia Howard Weil and Wells Fargo Securities are co-managers.