Valero Energy Corporation Announces Pricing of Notes Offering
September 08 2020 - 5:21PM
Business Wire
Valero Energy Corporation (NYSE: VLO, “Valero”) announced today
that it has priced a public offering of $575,000,000 aggregate
principal amount of Floating Rate Senior Notes due 2023,
$925,000,000 aggregate principal amount of 1.200% Senior Notes due
2024, $400,000,000 aggregate principal amount of 2.850% Senior
Notes due 2025 (the “2025 notes”) and $600,000,000 aggregate
principal amount of 2.150% Senior Notes due 2027. The Floating Rate
Senior Notes bear interest at a rate of three-month LIBOR plus
1.150%. The 2025 notes will constitute an additional issuance of
our 2.850% Senior Notes due 2025, of which $650,000,000 aggregate
principal amount was issued on April 16, 2020.
The offering is expected to close on September 10, 2020, subject
to customary closing conditions. Valero intends to use the net
proceeds from the offering for general corporate purposes.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., MUFG
Securities Americas Inc. and Scotia Capital (USA) Inc. acted as
joint book-running managers for the notes.
Copies of the prospectus supplement and accompanying base
prospectus relating to the offering may be obtained from J.P.
Morgan Securities LLC collect at 1-212-834-4533, Citigroup Global
Markets Inc. toll-free at 1-800-831-9146, MUFG Securities Americas
Inc. toll-free at 1-877-649-6848 or Scotia Capital (USA) Inc.
toll-free at 1-800-372-3930 and online at www.sec.gov.
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 50 company based in San Antonio, Texas, and it
operates 15 petroleum refineries with a combined throughput
capacity of approximately 3.2 million barrels per day and 14
ethanol plants with a combined production capacity of approximately
1.73 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 also is a joint venture partner in Diamond Green
Diesel, which 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.valero.com for more
information.
The notes were offered and will be sold pursuant to an effective
shelf registration statement on Form S-3 previously filed with the
Securities and Exchange Commission, and only by means of a
prospectus supplement and accompanying base prospectus. This news
release does not constitute an offer to sell or a solicitation of
an offer to buy the securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20200908006015/en/
Valero Contacts Investors: Homer Bhullar, Vice President
– Investor Relations, 210-345-1982 Eric Herbort, Senior Manager –
Investor Relations, 210-345-3331 Gautam Srivastava, Manager –
Investor Relations, 210-345-3992
Media: Lillian Riojas, Executive Director – Media Relations and
Communications, 210-345-5002
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