SAN ANTONIO, August 27, 2021–(BUSINESS WIRE)–Valero Energy Corporation (NYSE: VLO) today announced that it will repay 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 of the Notes is September 27, 2021. The aggregate principal amount of the Notes outstanding is $575 million. The redemption price of the Notes will be equal to 100% of the principal amount of the Notes in circulation, plus accrued and unpaid interest thereon up to, but not including, the redemption date. Valero expects to use cash on hand to fund the redemption of the Notes.
A redemption notice is being sent to all currently registered holders of the Notes by the trustee, US Bank National Association.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.
Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemicals. Valero is a Fortune 500 company based in San Antonio, Texas, and owns 15 oil refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 13 ethanol plants with a combined production capacity of about 1.7 billion gallons per year. Petroleum refineries are located in the United States (US), Canada and the United Kingdom (UK), and ethanol plants are located in the mid-continent region of the Americas. 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 the largest biomass-based diesel plant in North America. Valero sells its products in wholesale rack and bulk markets in the United States, Canada, United Kingdom, Ireland and Latin America. Approximately 7,000 points of sale carry Valero brands. Please visit www.investorvalero.com for more information.
Safe Harbor Statement
Statements in this release that set forth Valero’s or management’s expectations or forecasts for 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. 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 these forward-looking statements depending on many factors, including those beyond the company’s control, such as circumstances and events that could affect on liquidity and other factors. For additional information about factors that could cause actual results to differ from those expressed or anticipated, see Valero’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed with Securities and Exchange Commission and available on Valero’s website. website www.valero.com.
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Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Senior Director – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Director – Investor Relations, 210-345-3992
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002