Phillips 66
Phillips 66 Enters into $2.25 Billion Term Loan Agreement
Summary
On March 18, 2026, Phillips 66 Company, a subsidiary of Phillips 66, entered into a 364-day, $2.25 billion term loan credit agreement with a syndicate of banks and other financial institutions, with Mizuho Bank, Ltd. as the administrative agent. The agreement is guaranteed by Phillips 66 and includes customary covenants and events of default. Additionally, on March 13, 2026, the company amended its accounts receivable securitization program, increasing the maximum facility size from $1.25 billion to $1.75 billion and permitting a future increase to up to $2.0 billion.
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About Phillips 66
Phillips 66 is a renowned American multinational energy company involved in refining, transporting, and marketing petroleum products. Engaging primarily as a downstream sector entity, Phillips 66 operates an extensive network of refineries, pipelines, and retail stations across the globe. The company's main function is to refine crude oil into marketable fuels such as gasoline, diesel, and jet fuel, as well as petrochemical products that serve as building blocks for various industrial applications. Additionally, Phillips 66 is known for its logistics and midstream operations, which include pipelines and trucking services that facilitate efficient energy distribution. The company plays a critical role in the energy sector, impacting industries ranging from transportation to manufacturing. By maintaining a strategic focus on safety, environmental stewardship, and operational excellence, Phillips 66 contributes significantly to the global energy supply chain. Established in 1875 and headquartered in Houston, Texas, Phillips 66 continues to provide essential energy solutions while adapting to evolving market dynamics and sustainability demands.
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