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Tesoro Logistics to offer $600M of senior notes

will beoffering $600 million worth of senior notes, with proceeds to be used to repayamounts outstanding under its credit facilities.

The offeringconsists of $250 million of 6.125% senior notes due 2021 and $350 million ofsenior notes due 2024. The notes due 2021 would be issued as additional notesunder an indenture in which $550 million of the same notes were issued on Aug.1, 2013, according to the May 9 news release.

Tesoroplans to use the gross proceeds from the 2021 notes offering to repay amountsoutstanding under its dropdown credit facilities, while net proceeds from the2024 notes offering would be used to repay amounts outstanding under Tesoro'srevolving credit facility and for general partnership purposes.

Citigroupand Mitsubishi UFJ Securities (USA) Inc. are acting as joint book-runningmanagers for the offering.