Tesoro Logistics’ $750 Million Senior Notes Offering


Simpson Thacher recently represented Tesoro Logistics LP (“TLLP”) in its issuance and sale of $750 million aggregate principal amount of 5.25% Senior Notes due 2025. TLLP will use the proceeds from the offering to repay indebtedness outstanding under its dropdown credit facility.

TLLP is a fee-based, growth-oriented master limited partnership formed by Tesoro Corporation to own, operate, develop and acquire logistics assets and is a leading full-service logistics company operating primarily in the western and mid-continent regions of the United States.

The Simpson Thacher team for the transaction included Kenneth Wallach (Picture), Jonathan Ozner, Kalliope Kefallinos, Nicole Annunziato and Davis Mahon (Capital Markets); Jonathan Cantor and Jacqueline Clinton (Tax); Adeeb Fadil and Louise Kruger (Environmental); Jeanne Annarumma, Samantha Steinfeld and Jennifer Pepin (Executive Compensation and Employee Benefits); and Amber Harezlak (Intellectual Property).

Involved fees earner: Kenneth Wallach – Simpson Thacher & Bartlett; Jonathan Ozner – Simpson Thacher & Bartlett; Kalliope Kefallinos – Simpson Thacher & Bartlett; Nicole Annunziato – Simpson Thacher & Bartlett; Davis Mahon – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Jacqueline Clinton – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Louise Kruger – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett; Samantha Steinfeld – Simpson Thacher & Bartlett; Jennifer Pepin – Simpson Thacher & Bartlett; Amber Harezlak – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Tesoro Logistics LP;

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Author: Ambrogio Visconti