Tesoro Logistics plans for offerings

SAN ANTONIO — Tesoro Logistics is looking to raise nearly $300 million in public and private offerings of its common units this week.

The pipeline company announced Monday it would offer 4.25 million units to investors, raising that figure later in the day to 5.5 million units at $47.13 per unit, the company said in a regulatory filings with the Securities and Exchange Commission.

The public offering would raise $254 million and is expected to close by Friday, said the company, which spun off from Tesoro Corp. in 2011.

On Tuesday, one of the partnership’s bankers exercised an option to purchase 825,000 additional units, bringing the total amount of money expected to be raised to $293.6 million, the company said. Tesoro Logistics expects to use the funds for “general partnership purposes.”