UPDATE 1-Tesoro Logistics sees $302 mln IPO

* To offer 12.5 mln units

* Expects net proceeds of $225 mln (Follows alerts)

April 4 (Reuters) - Tesoro Logistics LP expects to raise up to $301.9 million in an initial public offering of its common stock, it said in a filing with U.S. regulators.

The company, formed by oil refiner Tesoro Corp to operate and develop crude oil and logistics assets, had said in January that it would raise up to $230 million in the IPO.[ID:nSGE70308L]

The company will offer 12.5 million units and expects to get net proceeds of $225 million from the IPO -- a large part of which will be distributed to Tesoro Corp to reimburse it for certain capital expenditures incurred.

Citigroup, Wells Fargo, BofA Merrill Lynch and Credit Suisse will underwrite the IPO.

The San Antonio, Texas-based company intends to list on the New York Stock Exchange under the ticker symbol "TLLP." (Reporting by Sweta Singh in Bangalore; Editing by Gopakumar Warrier)