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PSX - Phillips 66 to redeem floating rate senior notes due 2024
Phillips 66
Phillips 66 (PSX -1.5%) plans to redeem the entire outstanding principal amount of its Floating Rate Senior Notes due 2024; redemption date for the Notes is Dec.15. The principal amount of the Notes outstanding is $450M and redemption price will be equal to 100% of the principal amount of the Notes outstanding. The company plans to use cash on hand to fund the redemption. Post notes redemption is completed, the company will have paid down $1.5B of debt in 2021.