Simpson Thacher Represents Tesoro Corporation in $300 Million Senior Notes Offering
03.19.14
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Simpson Thacher recently represented Tesoro Corporation in its issuance and sale of $300,000,000 aggregate principal amount of 5.125% Senior Notes due 2024. Tesoro will use the proceeds from the offering, together with cash on hand, to fund the redemption of its 9.750% Senior Notes due 2019 and to pay any fees and expenses related to the offering.
Tesoro, a Fortune 100 company, is an independent refiner and marketer of petroleum products. Tesoro, through its subsidiaries, operates six refineries in the western United States with a combined capacity of 850,000 barrels per day. Tesoro's retail-marketing system includes over 2,250 retail stations under the Tesoroâ, Shellâ , ARCOâ , Exxon®, Mobil® and USA Gasoline™ brands.
The Simpson Thacher team for the transaction included Kenneth Wallach, Jonathan Ozner and Kara Sharkey (Capital Markets), Jonathan Cantor and Chang Won Choi (Tax), Adeeb Fadil (Environmental), David Rubinsky and Jennifer Pepin (Executive Compensation and Employee Benefits).