Tesoro Logistics LP : Tesoro Logistics LP Announces Pricing of $550 Million of 6.125% Senior Notes

Tesoro Logistics LP : Tesoro Logistics LP Announces Pricing of $550 Million of
                             6.125% Senior Notes

SAN ANTONIO - July 29, 2013 - Tesoro Logistics LP (the "Partnership")
(NYSE:TLLP) today announced that it has finalized the terms of its previously
announced senior notes offering. The Partnership will issue $550 million
aggregate principal amount of 6.125% Senior Notes due 2021. The notes will be
unsecured. The Partnership anticipates that consummation of the offering will
occur on August 1, 2013 and intends to use the proceeds from the offering (i)
to repay the amounts outstanding under its revolving credit facility, which
amounts were used to fund a portion of the Partnership's acquisition of six
marketing and storage terminals located in Southern California and certain
assets and properties related thereto from Tesoro Refining & Marketing Company
LLC, a subsidiary of Tesoro Corporation and (ii) to pay a portion of the fees
and expenses related to the offering.

The notes to be offered have not been registered under the Securities Act of
1933, as amended (the "Securities Act"), or any state securities laws and,
unless so registered, may not be offered or sold in the United States except
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable state
securities laws. The notes will be offered, by the initial purchasers, only to
persons reasonably believed to be qualified institutional buyers in reliance
on Rule 144A under the Securities Act and non-U.S. persons in transactions
outside the United States in reliance on Regulation S under the Securities
Act.

This press release is being issued pursuant to Rule 135c under the Securities
Act, and is neither an offer to sell nor a solicitation of an offer to buy any
securities and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of any securities in any jurisdiction in which such
offer, solicitation or sale is unlawful.

About Tesoro Logistics LP
Tesoro Logistics LP, headquartered in San Antonio, Texas, is a fee-based,
growth-oriented Delaware limited partnership formed by Tesoro Corporation to
own, operate, develop and acquire crude oil and refined products logistics
assets.

This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities Exchange
Act of 1934, as amended. You can identify forward-looking statements by the
use of words such as "may," "should," "could," "estimates," "predicts,"
"potential," "continue," "anticipates," "believes," "plans," "expects,"
"future" and "intends" and similar expressions which are intended to identify
forward-looking statements. These statements are not guarantees of future
performance and are subject to risks, uncertainties and other factors, some of
which are beyond the Partnership's control and difficult to predict. In
evaluating forward-looking statements, you should carefully consider the risks
and uncertainties described in the "Risk Factors" section or other sections in
the Partnership's Annual Report on Form 10-K filed on February 28, 2013 and
Quarterly Report on Form 10-Q filed on May 5, 2013. All forward-looking
statements attributable to the Partnership or persons acting on the
Partnership's behalf are expressly qualified in their entirety by these
cautionary statements and risk factors. Forward-looking statements contained
in this press release reflect the Partnership's view only as of the date of
this press release. The Partnership undertakes no obligation, other than as
required by law, to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.

Contact:
Investors:
Chris Castro, Investor Relations Manager, (210) 626-7202

Media:
Tesoro Media Relations, media@tsocorp.com, (210) 626-7702

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Tesoro Logistics LP via Thomson Reuters ONE
HUG#1719641
 
Press spacebar to pause and continue. Press esc to stop.