Tesoro Corporation Completes $4.6 Billion of Acquisition Financing Transactions in Connection With Western Refining Inc. Acquisition

December 22, 2016

On December 13 and December 22, Tesoro Corporation completed $4.6 billion of acquisition financing transactions in connection with its acquisition of Western Refining Inc. The acquisition financing consisted of a $3 billion credit facility and $1.6 billion of senior notes. S&C acted for Tesoro on both the credit agreement and the notes. 
 
The M&A team for the transaction is being led by Frank Aquila and Audra Cohen. The financing team consisted of Ari Blaut, Aba Yamoah, Lily Colahan and Margaret Benson. Jeffrey Hochberg and Saul Brander advised on tax matters; Dana Brodsky advised on ERISA matters; Matthew Brennan advised on environmental matters; and Joseph Matelis, Eric Queen and Clea McClellan advised on antitrust matters.