SAN ANTONIO, Nov. 19, 2015 /PRNewswire/ -- Valero Energy
Partners LP (NYSE: VLP, the "Partnership") today announced the
pricing of an underwritten public offering of 4,250,000 common
units representing limited partner interests at a public offering
price of $46.25 per common unit.
In connection with the offering, the Partnership granted the
underwriters a 30-day option to purchase up to an additional
637,500 common units. The offering is expected to close on
November 24, 2015, subject to certain
closing conditions.
The Partnership expects to receive gross proceeds (before
underwriters discounts and commissions and estimated offering
expenses) of approximately $196,562,500
million (or approximately $226,046,875 million if the underwriters exercise
in full their option to purchase additional common units),
including our general partner's proportionate capital contribution
to maintain its 2% general partner interest in the Partnership and
after deducting underwriting discounts and estimated offering
expenses. The Partnership expects to use the net proceeds from this
offering for general partnership purposes, which may include
funding future acquisitions, investments and other capital
expenditures, and repayment of its outstanding indebtedness.
J.P. Morgan is acting as the sole book-running manager for the
offering.
The common units are being offered and will be sold pursuant to
an effective shelf registration statement that was previously filed
with the Securities and Exchange Commission (the "SEC"). This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction. The offering is being made only by means of a
prospectus and related prospectus supplement meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended. When available, a copy of the prospectus supplement
and accompanying base prospectus relating to the offering may be
obtained for free by visiting EDGAR on the SEC website at
www.sec.gov or by sending a request to J.P. Morgan Securities LLC
by phone at (866) 803-9204, by mail at J.P. Morgan Securities LLC,
via Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by
email at prospectus-eq_fi@jpmchase.com.
About Valero Energy Partners LP
Valero Energy
Partners LP is a fee-based master limited partnership formed by
Valero Energy Corporation to own, operate, develop, and acquire
crude oil and refined products pipelines, terminals, and other
transportation and logistics assets. With headquarters in
San Antonio, the Partnership's
assets include crude oil and refined petroleum products pipeline
and terminal systems in the Gulf Coast and Mid-Continent regions of
the United States that are
integral to the operations of nine of Valero's refineries. Please
visit www.valeroenergypartners.com for more information.
Forward-Looking Statements
This release
contains forward-looking statements, within the meaning of federal
securities laws, with respect to the offering of common units and
the use of proceeds therefrom. These forward-looking
statements contain words such as "will," "may," and "expect," are
not guarantees of future performance, and are subject to risks,
uncertainties and other factors, some of which are beyond the
Partnership's control and are difficult to predict. These
statements are often based upon various assumptions, many of which
are based, in turn, upon further assumptions, including examination
of historical operating trends made by the management of the
Partnership. Although the Partnership believes that these
assumptions were reasonable when made, because assumptions are
inherently subject to significant uncertainties and contingencies,
which are difficult or impossible to predict and are beyond its
control, the Partnership cannot give assurance that it will achieve
or accomplish these expectations, beliefs or intentions. When
considering these forward-looking statements, you should keep in
mind the risk factors and other cautionary statements contained in
the Partnership's filings with the SEC, including the Partnership's
annual reports on Form 10-K and quarterly reports on Form 10-Q,
available on the Partnership's website at
www.valeroenergypartners.com. These risks could cause the
Partnership's actual results to differ materially from those
contained in any forward-looking statement.
Contacts
Investors:
John Locke, Vice President –
Investor Relations, 210-345-3077
Karen Ngo, Manager – Investor
Relations, 210-345-4574
Media:
Steve Lee, Manager – Corporate
Communications, 210-345-4137
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SOURCE Valero Energy Partners LP