Tesoro Logistics eyes credit facilities paydown with notes proceeds

By Sara Rosenberg

New York, May 9 – Tesoro Logistics plans to repay borrowings under both its revolving and drop down credit facilities using proceeds from the sale of $700 million in senior notes, according to a market source.

Remaining proceeds from the notes will be used for general partnership purposes and to pay related fees and expenses.

Tesoro is a San Antonio-based full-service provider of midstream logistics.

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