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Phillips 66 Partners files to sell $250M of common units

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Phillips 66 Partners files to sell $250M of common units

Phillips 66 PartnersLP filed a shelf registration for the potential offering and sale ofup to $250 million of common units from time to time.

Phillips 66 intends to use the net proceeds from the offeringfor general partnership purposes, such as debt repayment, acquisitions, CapEx andadditions to working capital, according to a Form S-3 filed May 10.

The partnership may offer and sell the common units in amounts,at prices and on terms to be determined by market conditions and other factors atthe time of the offerings.

The transactions may be done to or through underwriters, dealers,or directly to purchasers on a continuous or delayed basis.