Tesoro Corporation Announces Redemption of 6 1/4% Senior Notes Due 2012

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.