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Valero Energy Corporation Announces Pricing of Notes Offering

SAN ANTONIO, March 21, 2019 (GLOBE NEWSWIRE) -- Valero Energy Corporation (VLO) (“Valero”) announced today that it has priced a public offering of $1 billion aggregate principal amount of 4.000% senior notes due 2029. The offering is expected to close on March 25, 2019, subject to customary closing conditions. Valero intends to use the net proceeds from the offering for general corporate purposes, which may include the funding of the redemption of $850 million aggregate principal amount of its 6.125% Senior Notes due 2020.

Citigroup Global Markets Inc.; J.P. Morgan Securities LLC; Mizuho Securities USA LLC and MUFG Securities Americas Inc. acted as joint book-running managers for the notes.

Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Citigroup Global Markets Inc. at 1-800-831-9146; J.P. Morgan Securities LLC collect at 1-212-834-4533; Mizuho Securities USA LLC at 1-866-271-7403; MUFG Securities Americas Inc. at 1-877-649-6848; and online at www.sec.gov.

About Valero

Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 50 company based in San Antonio, Texas, and it operates 15 petroleum refineries with a combined throughput capacity of approximately 3.1 million barrels per day and 14 ethanol plants with a combined production capacity of 1.73 billion gallons per year. The petroleum refineries are located in the United States, Canada and the United Kingdom, and the ethanol plants are located in the Mid-Continent region of the U.S. Valero also is a joint venture partner in Diamond Green Diesel, which operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel is North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names.

The notes were offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission, and only by means of a prospectus supplement and accompanying base prospectus. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Valero Contacts

Homer Bhullar, Vice President – Investor Relations, 210-345-1982
Gautam Srivastava, Manager – Investor Relations, 210-345-3992
Tom Mahrer, Manager – Investor Relations, 210-345-1953

Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002