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Bracewell Represents ConocoPhillips in Phillips 66 Spin-Off

May 7, 2012

HOUSTON — Bracewell & Giuliani LLP represented ConocoPhillips in the spin-off of Phillips 66, which is now an independent downstream energy company with industry-leading businesses in refining and marketing, midstream, and chemicals. 

The representation included an offering by Phillips 66 of $5.8 billion of senior unsecured notes, a $5 billion bridge loan facility, a $2.8 billion term loan facility, a $4 billion revolving credit facility, a $4 billion commercial paper facility, a $1.2 billion receivables securitization and other securities, regulatory and commercial matters.

The two companies separated through the distribution of shares of Phillips 66 to holders of ConocoPhillips common stock. Phillips 66 became an independent, publicly traded company on the New York Stock Exchange on May 1, 2012, and ConocoPhillips retains no ownership interest.

Bracewell attorneys who worked on the matter include:

Partners: G. Alan Rafte, Jessica N. Adkins, Charles L. Almond, William S. Anderson, Lance W. Behnke, Heather L. Brown, Stephen B. Crain, Christy C. Edwards, Elizabeth L. McGinley, Robin J. Miles, Sandra E. Rizzo, and Lisa A. Smith

Counsel:  Ian R. Brown and Melanie L. Samadi

Associates:  Caroline G. Alexander, Melissa K. Buce, Jeris D. Brunette, Andrew S. Farris, Jordan Federko, Jeffrey H. Gilbert, Mona M. Guidry, Jonathon K. Hance, Jason M. Jean, Alexander W. Jones, Shanna R. Kuzdzal, Laura S. Martone, Paul M. McBride, Robert S. Palumbo, Molly E. Tucker, and Michael C. Yates