The Firm is representing Tesoro Logistics LP (“TLLP”) in connection with the committed financing for its announced acquisition of 100% of the outstanding equity interests of QEP Field Services, LLC (“QEPFS”), including up to $2.5 billion in senior unsecured bridge financing and a $900 million revolving credit facility. The bridge financing will be reduced by the amount of gross proceeds TLLP receives from a public offering of its common units and a private placement of its debt securities.
TLLP is a fee-based, growth-oriented master limited partnership formed by Tesoro Corporation to own, operate, develop and acquire logistics assets. The anticipated acquisition of QEPFS will allow TLLP to extend its logistics strategy into the natural gas business.
The Simpson Thacher team includes David Lieberman, Jason Hwang, Adam Moss and Homin Lee (Credit); and Kenneth Wallach, Jonathan Ozner, Sarah Elliot and Andrea Riba Anglada (Capital Markets).
Source: www.stblaw.com
