Summary
Valero Energy Corporation (VLO) announced on February 7, 2022, the successful issuance and sale of $650 million in aggregate principal amount of 4.000% Senior Notes due 2052. This offering was conducted under an underwriting agreement with several prominent financial institutions, including J.P. Morgan Securities LLC, BofA Securities, Inc., Scotia Capital (USA) Inc., and Wells Fargo Securities, LLC, acting as representatives for the underwriters. These senior notes were issued pursuant to an existing Indenture dated March 10, 2015, with U.S. Bank Trust Company, National Association, serving as trustee. The offering was registered under the Securities Act of 1933, leveraging a Form S-3 registration statement and a prospectus supplemented with details specific to this debt issuance. This action represents a material definitive agreement for the company, indicating a strategic move to secure long-term financing.
Key Highlights
- 1Valero Energy Corp. successfully issued $650 million in 4.000% Senior Notes due 2052.
- 2The debt issuance was completed on February 7, 2022.
- 3The offering was managed by a syndicate of underwriters led by J.P. Morgan Securities LLC, BofA Securities, Inc., Scotia Capital (USA) Inc., and Wells Fargo Securities, LLC.
- 4The notes were issued under an existing Indenture dated March 10, 2015, with U.S. Bank Trust Company, National Association as trustee.
- 5The issuance was registered under the Securities Act of 1933 via a Form S-3 registration statement and a supplemented prospectus.
- 6This filing constitutes a material definitive agreement and the creation of a direct financial obligation for Valero.