SUMMARY
Valero Energy Corporation
We are a
Fortune 500 company based in San Antonio, Texas. We were incorporated in Delaware in 1981 under the name Valero Refining and Marketing Company. We changed our name to Valero Energy Corporation on August 1, 1997. Our common stock trades on the
New York Stock Exchange (the NYSE) under the symbol VLO. On January 31, 2021, we had 9,964 employees.
We own
15 petroleum refineries located in the United States (U.S.), Canada, and the United Kingdom (U.K.) with a combined throughput capacity of approximately 3.2 million barrels per day. Our refineries produce conventional
gasolines, premium gasolines, reformulated gasoline, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel, low-sulfur diesel, ultra-low-sulfur diesel, CARB diesel, other distillates, jet fuel, asphalt, petrochemicals, lubricants, and other refined petroleum products. We also own 12 ethanol plants located in the Mid-Continent region of the U.S. with a combined production capacity of approximately 1.6 billion gallons per year. We are also a joint venture partner in Diamond Green Diesel Holdings LLC, which owns and
operates a renewable diesel plant in Norco, Louisiana. We sell our 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 our brand names.
Our principal executive offices are located at One Valero Way, San Antonio, Texas 78249, our telephone number is (210) 345-2000 and our website is www.valero.com. The information on our website is not incorporated by reference in, and does not form a part of, this prospectus supplement or the accompanying prospectus.
Concurrent Tender Offers
On the date of
this prospectus supplement, we commenced (1) a cash tender offer (the Any and All Tender Offer) for any and all of our outstanding 2.700% Senior Notes due 2023 (the Any and All Notes), upon the terms and subject to the
conditions set forth in the related offer to purchase dated the date hereof (the Offer to Purchase) and notice of guaranteed delivery, and (2) a cash tender offer (the Maximum Tender Offer and, collectively with the Any
and All Tender Offer, the Tender Offers) for our outstanding 1.200% Senior Notes due 2024 (the 2024 Notes), our outstanding 3.650% Senior Notes due 2025 (the 3.650% 2025 Notes), the outstanding 4.375% Senior Notes
due 2026 issued by Valero Energy Partners LP and guaranteed by us (the 2026 Notes), our outstanding 2.850% Senior Notes due 2025 (the 2.850% 2025 Notes), our outstanding 10.500% Senior Notes due 2039 (the 2039
Notes), our outstanding 8.750% Senior Notes due 2030 (the 2030 Notes), our outstanding 7.500% Senior Notes due 2032 (the 2032 Notes), and our outstanding 6.625% Senior Notes due 2037 (the 2037 Notes and,
collectively with the 2024 Notes, 3.650% 2025 Notes, 2026 Notes, 2.850% 2025 Notes, 2039 Notes, 2030 Notes, and 2032 Notes, (the Maximum Tender Offer Notes) and together with the Any and All Notes, the Existing Notes) for up
to the maximum aggregate purchase price specified in, and subject to the acceptance priority levels, series tender caps and other terms and conditions set forth in, the related Offer to Purchase. As of September 30, 2021: (1) $850 million
in aggregate principal amount of the Any and All Notes was outstanding; (2) $925 million in aggregate principal amount of 2024 Notes was outstanding; (3) $600 million in aggregate principal amount of 3.650% 2025 Notes was outstanding;
(4) $500 million in aggregate principal amount of 2026 Notes was outstanding; (5) $1,050 million in aggregate principal amount of 2.850% 2025 Notes was outstanding; (6) $200 million in aggregate principal amount of 2030
Notes was outstanding; (7) $750 million in aggregate principal amount of 2032 Notes was outstanding; (8) $250 million in aggregate principal amount of 2039 Notes was outstanding; and (9) $1,500 million in aggregate principal
amount of 2037 Notes was outstanding.
The Any and All Tender Offer is expected to expire on November 24, 2021, unless extended or earlier
terminated. The Maximum Tender Offer is expected to expire on December 16, 2021, unless extended or earlier terminated. The Tender Offers are conditioned on the completion of this offering of Notes on terms satisfactory