Andeavor Logistics may pay down revolver debt via new note offerings

By Tali Rackner

Minneapolis, Nov. 16 – Andeavor Logistics LP may redeem amounts outstanding under its revolving credit facility using the proceeds from three new note offerings, according to a 424B3 filing with the Securities and Exchange Commission.

As of Nov. 13, there was about $480 million of debt outstanding under the revolver, which is scheduled to mature on Jan. 29, 2021.

Proceeds will also be used to repay borrowings under the dropdown credit facility, to redeem its 5 7/8% senior notes due 2020 and 6 1/8% senior notes due 2021 and for general partnership purposes.

Andeavor is a San Antonio-based marketing, logistics and refining company.

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