Summary
Valero Energy Corporation (VLO) has announced a significant debt offering through an underwriting agreement dated March 22, 2004. The company plans to issue $400 million in aggregate principal amount of notes, split equally between $200 million of 3.50% Notes due 2009 and $200 million of 4.75% Notes due 2014. This offering is being conducted under the company's existing shelf registration statements and is scheduled to close on March 25, 2004. The primary purpose of this filing is to disclose the details of this substantial debt issuance, which will likely be used for general corporate purposes. Investors should note the specific interest rates and maturity dates of the new notes. This move indicates Valero's strategy to manage its capital structure and potentially fund ongoing operations or growth initiatives.
Key Highlights
- 1Valero Energy Corporation (VLO) is issuing $400 million in new debt.
- 2The issuance includes $200 million of 3.50% Notes due 2009.
- 3The issuance also includes $200 million of 4.75% Notes due 2014.
- 4The notes are being issued under existing shelf registration statements.
- 5The underwriting agreement was dated March 22, 2004, with a syndicate of investment banks.
- 6The closing of the offering is scheduled for March 25, 2004.
- 7The filing lists the underwriting agreement and terms of the notes as exhibits.