Printer Friendly

Phillips Guarantees Tosco's Publicly Issued Debt.

Buisness Editors

BARTLESVILLE, Okla.--(BUSINESS WIRE)--Oct. 10, 2001

In connection with its recently completed acquisition of Tosco Corporation, Phillips Petroleum Company (NYSE:P) has entered supplemental indentures fully and unconditionally guaranteeing all of the publicly issued debt of Tosco Corporation.

Debt securities covered by the guarantee include the indenture dated as of April 1, 1993, as supplemented Dec. 31, 1993, and the indenture dated as of May 1, 1996, as supplemented May 28, 1996, May 30, 1997, Feb. 15, 2000, and April 28, 2000.

The effective date of the supplemental indentures is Sept. 24, 2001. As a result of the guarantees contained in the supplemental indentures, Tosco Corporation will no longer be subject to separate public reporting requirements relating to the debt securities covered.

The remaining terms of the original Tosco indentures are otherwise unchanged, and the terms of the debt securities are unaffected by the addition of the Phillips guarantees.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Oct 10, 2001
Words:152
Previous Article:Computer Motion Announces Third Quarter Earnings Conference Call Tuesday, October 16, 2001, at 4:30 p.m. ET/3:30 p.m. CT.
Next Article:ProSight Elevates Role of Portfolio Management With Flexible ProSight Portfolios 2.0; Second-Generation Software Enhances Collaboration Between IT...
Topics:


Related Articles
UNOCAL FINALIZES $2 BILLION SALE OF WEST COAST ASSETS.
UNOCAL TO SELL RETAIL OPERATION : UNOCAL SOLD 76 PRODUCTS CO.
UNOCAL FINALIZES DEAL WITH TOSCO.
CONSUMERS LIKELY UNAFFECTED AS OIL FIRM CHANGES HANDS AGAIN.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters