Valero Energy Corporation Announces Pricing of Notes Offering

Source: www.gulfoilandgas.com 2/2/2022, Location: North America

Valero Energy Corporation announced that it has priced a public offering of $650,000,000 aggregate principal amount of 4.000% Senior Notes due 2052 (the “Notes”).

The offering is expected to close on February 7, 2022, subject to customary closing conditions. Valero intends to use the net proceeds from the offering, together with cash on hand, to finance its cash tender offers (the “Tender Offers”) to repurchase its outstanding 3.650% Senior Notes due 2025, 2.850% Senior Notes due 2025, 3.400% Senior Notes due 2026, 2.150% Senior Notes due 2027 and 4.350% Senior Notes due 2028, and the 4.375% Senior Notes due 2026 and 4.500% Senior Notes due 2028 issued by Valero Energy Partners LP and guaranteed by Valero. In the event that there are any net proceeds from this offering that are not used to finance the Tender Offers, Valero anticipates using such net proceeds for general corporate purposes.

J.P. Morgan Securities LLC, BofA Securities, Inc., Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.

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, BofA Securities, Inc. at 1 (800) 294-1322, Scotia Capital (USA) Inc. at 1 (800) 372-3930 and Wells Fargo Securities, LLC at 1 (800) 645-3751 and online at www.sec.gov.


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