Summary
Valero Energy Corporation (VLO) announced on November 22, 2021, through an 8-K filing, the execution of an underwriting agreement to issue and sell a significant amount of senior notes. This offering comprises $500 million in 2.800% Senior Notes due 2031 and $950 million in 3.650% Senior Notes due 2051, totaling $1.45 billion in aggregate principal amount. These notes are being issued under the company's existing indenture and were registered with the SEC under a Form S-3 registration statement. The primary purpose of this filing is to inform investors about the details of this debt offering. The company is leveraging the capital markets to raise substantial funds through long-term debt. The closing of this transaction is anticipated on November 29, 2021. Investors should note that this filing details the terms of the debt issuance and is not an offer to sell or a solicitation of an offer to buy these securities, which are being offered via a prospectus.
Key Highlights
- 1Valero Energy (VLO) is issuing $500 million in 2.800% Senior Notes due 2031.
- 2Valero Energy (VLO) is issuing $950 million in 3.650% Senior Notes due 2051.
- 3The total aggregate principal amount of the senior notes offering is $1.45 billion.
- 4The notes are being issued under an existing indenture dated March 10, 2015.
- 5The offering is registered with the SEC under a Form S-3 registration statement.
- 6The expected closing date for the issuance and sale of the notes is November 29, 2021.