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Western Refining Announces Pricing Of Senior Notes Offering

Stocks in this article: WNR

EL PASO, Texas, March 12, 2013 (GLOBE NEWSWIRE) -- Western Refining, Inc. (NYSE:WNR) announced today that it priced its previously announced private offering of $350 million aggregate principal amount of its senior unsecured notes due April 1, 2021. The notes will bear an interest rate of 6.25% per annum and will be issued at 100.00%, plus accrued interest, if any, from March 25, 2013.

Western intends to use the net proceeds from this offering and cash-on-hand to (i) repurchase any and all of its outstanding 11.250% Senior Secured Notes due 2017 (the "Existing Secured Notes") in a concurrent tender offer and related consent solicitation, (ii) pay any related fees and expenses, including any applicable consent solicitation fees, tender premiums and accrued interest on the Existing Secured Notes, and (iii) redeem or discharge the Existing Secured Notes, if any, that remain outstanding after the completion of the tender offer.

The senior notes have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act of 1933, as amended. This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

The Western Refining, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7615

CONTACT: Investor and Analyst Contact:
         Jeffrey S. Beyersdorfer
         (602) 286-1530
         
         Media Contact:
         Gary Hanson
         (602) 286-1777

Western Refining Inc. Logo

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