Tesoro Logistics LP Completes $700 Million Senior Notes Offering
05.19.16
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Simpson Thacher recently represented Tesoro Logistics LP (“TLLP”) in its issuance and sale of $250 million aggregate principal amount of 6.125% Senior Notes due 2021 and $450 million aggregate principal amount of 6.375% Senior Notes due 2024. TLLP will use the proceeds from the offering to repay indebtedness outstanding under its credit facilities and for general partnership purposes.
TLLP is a fee-based, growth-oriented master limited partnership formed by Tesoro Corporation to own, operate, develop and acquire logistics assets and is a leading full-service logistics company operating primarily in the western and mid-continent regions of the United States.
The Simpson Thacher team for the transaction included Kenneth Wallach, Jonathan Ozner, Kalliope Kefallinos and Jeff Levine (Capital Markets); Jonathan Cantor and Jacqueline Clinton (Tax); Adeeb Fadil and Louise Kruger (Environmental); Jeanne Annarumma, Samantha Steinfeld and Jennifer Pepin (Executive Compensation and Employee Benefits); and Amber Harezlak (Intellectual Property).