Andeavor to conduct offering of fixed-rate senior notes in two parts

By Devika Patel

Knoxville, Tenn., Dec. 14 – Andeavor intends to offer dollar-denominated fixed-rate senior notes (/BBB-/BBB-) in two tranches, according to a 424B3 filing with the Securities and Exchange Commission.

The first-tranche notes will have a make-whole call until three months prior to maturity, then a par call. The second-tranche notes will have a make-whole call until six months prior to maturity, then a par call.

Citigroup Global Markets Inc., Mizuho Securities USA Inc. and MUFG are the bookrunners.

Proceeds will be used to repay debt under the company’s revolving credit facility and for general corporate purposes.

Andeavor, formerly known as Tesoro Corp., is a San Antonio-based marketing, logistics and refining company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.