Phillips 66 Partners LP - 2015-02-23

Priced its underwritten public offering of about 5.3 million common units at $75.50 per unit. Underwriters have been granted an option to purchase up to 787,500 additional units. 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. Barclays, J.P. Morgan, BofA Merrill Lynch, Citigroup, Goldman, Sachs & Co., Morgan Stanley, RBC Capital Markets and Wells Fargo Securities are joint book-running managers. BNP Paribas, Deutsche Bank Securities, Mizuho Securities, PNC Capital Markets LLC and Scotiabank/Howard Weill are co-managers.