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Andeavor closes $1.0B senior notes offering

Andeavor, the refining giant formed through the merger of Tesoro Corp. and Western Refining Inc., completed an offering of $1.0 billion of senior notes, the net proceeds of which will be used to repay revolver debt and for general corporate purposes.

Andeavor issued $500 million of 3.800% notes due 2028 at 99.853% of par value and $500 million of 4.500% notes due 2048 at 98.574% par value, according to a Dec. 21 news release.

The notes will accrue interest from Dec. 21.

Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., ABN AMRO Securities (USA) LLC, Merrill Lynch Pierce Fenner & Smith Inc., Goldman Sachs & Co. LLC, PNC Capital Markets LLC and RBC Capital Markets LLC acted as joint book-running managers in the offering.