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Valero Energy to issue 10-year, 30-year senior notes
By William Gullotti
Buffalo, N.Y., Nov. 18 – Valero Energy Corp. is planning a two-tranche offering of senior notes, according to a 424B5 filed with the Securities and Exchange Commission.
The notes will be sold in tranches due 2031 and 2051.
The notes will have optional make-whole calls and then par calls.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., BofA Securities, Inc., MUFG Securities Americas Inc., Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC are the joint bookrunning managers.
U.S. Bank NA is the trustee.
Baker Botts LLP is working as counsel to the issuer. Davis Polk & Wardwell LLP is advising the underwriters.
Proceeds will be used with cash on hand to finance the company’s tender offers started on Thursday.
San Antonio-based Valero is an oil refinery owner and operator.
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