Chevron Phillips Chemical has raised $300 million in a sale of senior unsecured notes in the144a private placement market, Reuters reports. The U.S. petrochemical manufacturer appointed JP Morgan and Royal Bank of Scotland as the joint bookrunning managers for the deal. The notes carry a coupon rate of 4.750%, and are due to mature on Feb. 1, 2021. The Texas-based company intends to use the proceeds to partially repay $500 million of 7% senior notes due 2011, adds Bloomberg.

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