Valero Energy Corporation Announces the Redemption of Floating Rate Senior Notes Due 2023
August 27 2021 - 8:55AM
Business Wire
Valero Energy Corporation (NYSE: VLO) announced today that it
will redeem the entire outstanding principal amount of its Floating
Rate Senior Notes due 2023 (the “Notes”) as part of its previously
announced plans to reduce debt. The redemption date for the Notes
is September 27, 2021. The aggregate principal amount of the Notes
outstanding is $575 million. The redemption price for the Notes
will be equal to 100% of the principal amount of the Notes
outstanding, plus accrued and unpaid interest thereon to, but not
including, the redemption date. Valero plans to use cash on hand to
fund the redemption of the Notes.
A notice of redemption is being sent to all currently registered
holders of the Notes by the Trustee, U.S. Bank National
Association.
This press release is not an offer to sell or a solicitation of
an offer to buy any securities.
About Valero
Valero Energy Corporation, through its subsidiaries
(collectively, “Valero”), is an international manufacturer and
marketer of transportation fuels and petrochemical products. Valero
is a Fortune 500 company based in San Antonio, Texas, and it owns
15 petroleum refineries with a combined throughput capacity of
approximately 3.2 million barrels per day and 13 ethanol plants
with a combined production capacity of approximately 1.7 billion
gallons per year. The petroleum refineries are located in the
United States (U.S.), Canada and the United Kingdom (U.K.), and the
ethanol plants are located in the Mid-Continent region of the U.S.
Valero is also a joint venture partner in Diamond Green Diesel,
which owns and operates a renewable diesel plant in Norco,
Louisiana. Diamond Green Diesel is North America’s largest
biomass-based diesel plant. Valero sells its products in the
wholesale rack or bulk markets in the U.S., Canada, the U.K.,
Ireland and Latin America. Approximately 7,000 outlets carry
Valero’s brand names. Please visit www.investorvalero.com for more
information.
Safe-Harbor Statement
Statements contained in this release that state Valero’s or
management’s expectations or predictions of the future are
forward-looking statements intended to be covered by the safe
harbor provisions of the Securities Act of 1933 and the Securities
Exchange Act of 1934. The forward-looking statements in this
release include Valero’s plans to reduce debt, the expected timing
and terms of redemption of the Notes and the source of funding for
the redemption. It is important to note that actual results could
differ materially from those projected in such forward-looking
statements based on numerous factors, including those outside of
the company’s control, such as circumstances and events that could
impact liquidity and other factors. For more information concerning
factors that could cause actual results to differ from those
expressed or forecasted, see Valero’s annual report on Form 10-K,
quarterly reports on Form 10-Q, and other reports filed with the
Securities and Exchange Commission and available on Valero’s
website at www.valero.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210827005240/en/
Investors: Homer Bhullar, Vice President – Investor Relations
and Finance, 210-345-1982 Eric Herbort, Senior Manager – Investor
Relations, 210-345-3331 Gautam Srivastava, Senior Manager –
Investor Relations, 210-345-3992 Media: Lillian Riojas, Executive
Director – Media Relations and Communications, 210-345-5002
Valero Energy (NYSE:VLO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Valero Energy (NYSE:VLO)
Historical Stock Chart
From Jul 2023 to Jul 2024