Tesoro Corporation TSO has completed
the redemption of all of its outstanding $299 million 6 1/4% Senior Notes due
November 2012. On September 13, 2012, the Company priced $450 million 4 1/4%
Senior Notes due 2017 and $475 million 5 3/8% Senior Notes due 2022. Net
proceeds from that offering, expected to be completed on September 27, 2012,
and cash on hand will be used to fund its cash tender offers for the
repurchase of any and all of its outstanding 6 5/8% Senior Notes due 2015 and
6 1/2% Senior Notes due 2017.
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