BREAKING: Phillips 66 ($PSX) entered a 364‑day $2.25B term loan and drew the full amount today — facility…
Filed with the SEC on · Summarized by InvestorsBot
BREAKING: Phillips 66 ($PSX) entered a 364‑day $2.25B term loan and drew the full amount today — facility guaranteed by Phillips 66. 🚨💵 #BREAKING #Energy #Liquidity #PSX
ALERT: This is near‑term bridge financing for $PSX — matures in 364 days; interest at Term SOFR +1.10% (or ref +0.10%). Covenant: consolidated net debt‑to‑capital ≤65% each quarter. 📈⏳ #Debt #Liquidity #Investing #PSX
Confirmed: $PSX amended its receivables securitization — max facility raised to $1.75B (with option to seek up to $2.0B) to boost working capital (amendment dated Mar 13). 🔁📑 #Receivables #Credit #Energy #PSX
NOTE: Loan is guaranteed by Phillips 66, fully drawn, prepayable w/o penalty, and contains customary covenants/defaults. Matures ~Mar 2027 — watch leverage, cash use & next refinancing moves. ⚠️🔎 $PSX #Risk #Finance #Energy