Posted at 11:11 a.m., Tuesday, May 22, 2007
Tesoro to sell $500M of senior notes due in 2017
Bloomberg News ServiceTesoro Corp., the second-largest refinery in the U.S. West and owner of Hawai'i's largest oil refinery, plans to sell $500 million of senior notes due in 2017.
Proceeds will be used a $700 million term loan, San Antonio-based Tesoro said in a statement today. Moody's Investors Service rates the company's senior unsecured debt Ba1, while Standard & Poor's gives it a rating of BB+, both below investment grade.