Tesoro
Corporation (NYSE:TSO) today announced that it is proposing to offer
in a registered offering $300 million of senior unsecured notes due
2019, subject to market conditions.
Net proceeds from the offering will be used for general corporate
purposes, including the repayment or the refinancing of indebtedness,
capital expenditures and working capital.
J.P. Morgan Securities Inc., Banc of America Securities LLC, Wachovia
Securities and RBS will act as joint book-running managers for the
offering. The offering will be made only by means of a prospectus,
copies of which may be obtained from J.P. Morgan Securities Inc., 270
Park Ave., 8th Floor, Attention: Syndicate Desk, New York, NY 10017,
212-834-4555. An electronic copy of the prospectus is available from the
Securities and Exchange Commission's website at http://www.sec.gov.
About Tesoro
Tesoro
Corporation, a Fortune 100 and a Global Fortune 500 company based in
San Antonio, Texas, is an independent refiner and marketer of petroleum
products. Tesoro operates seven refineries primarily in the western
United States, with a combined crude oil capacity of approximately
664,000 barrels per day. Tesoro's retail marketing system includes more
than 870 branded retail stations, of which more than 380 are company
operated under the Tesoro®, Shell®, Mirastar® and USA Gasoline™ brands.
Tesoro's commercial marketing system includes sales of jet fuel and
marine fuels.
This communication contains statements that constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on
current expectations and beliefs and are subject to a number of risks,
uncertainties and assumptions that could cause actual results to differ
materially from those described in the forward-looking statements. These
risks and uncertainties are more fully described in SEC reports filed by
Tesoro. While Tesoro makes these forward-looking statements in good
faith, management cannot guarantee that anticipated future results will
be achieved. Tesoro assumes no obligation and expressly disclaims any
duty to update the information contained herein except as required by
law.
Tesoro Corporation
Investors:
Scott Phipps,
210-626-4882
Director, Investor Relations
or
Media:
Lynn
Westfall, 210-626-4697
SVP of External Affairs and Chief
Economist
