Senior Notes Offerings by Phillips 66 Partners and Dynegy Inc.

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Two Houston-based energy firms have announced massive senior notes deals. While Phillips 66 Partners LP is announcing a $1.125 billion Senior Notes Offering, Dynegy Inc. is closing its offering of $750 million senior notes.

The Phillips offering includes notes due 2026 and in 2046 and the proceeds will be used to pay the cash consideration payable by the Partnership for its announced acquisition of 30 crude, products and NGL logistics assets from Phillips 66. The closing of the offering will be Oct. 14.

Dynegy will use proceeds from its $750 million offering to fund money owed Energy Capital Partners III, LLC in a previously announced purchase of ownership interests in some North American power generation assets from International Power, S.A.