Tesoro Logistics to pay down credit facility debt with notes proceeds

By Sara Rosenberg

New York, Nov. 29 – Tesoro Logistics LP plans on repaying borrowings under its dropdown credit facility using proceeds from a $750 million senior unsecured notes offering, according to a market source.

Remaining proceeds from the notes will be used for general partnership purposes, including acquisitions.

Tesoro Logistics is a San Antonio-based provider of midstream services.

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