Tesoro Petroleum $215 mln notes talked at 9 5/8%-9¾%

By Paul A. Harris

St. Louis, Mo., Oct. 31 - Price talk emerged Wednesday for Tesoro Petroleum Corp.'s $215 million of senior subordinated notes due 2008, putting the yield at 9 5/8% to 9 ¾%, a syndicate source told Prospect News. Pricing on the deal is set for Thursday afternoon, the source added.

Lehman Brothers is the bookrunner. The syndicate includes ABN Amro, Banc of America, Banc One Capital Management, Credit Lyonnais, and Scotia Capital.

Proceeds will be used to repay bank debt.

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