Valero Energy Corporation Announces Pricing of Notes Offering

SAN ANTONIO, Sept. 07, 2016 -- Valero Energy Corporation (NYSE:VLO) announced today that it has priced a public offering of $1,250,000,000 aggregate principal amount of 3.400% senior notes due 2026. The offering is expected to close on September 12, 2016, subject to customary closing conditions. Valero intends to use the net proceeds from the offering for general corporate purposes, including the funding of the redemption of $750 million aggregate principal amount of its 6.125% Senior Notes due 2017 and $200 million aggregate principal amount of its 7.2% Senior Notes due 2017.

Citigroup Global Markets Inc., Barclays Capital Inc., Mizuho Securities USA Inc., RBC Capital Markets, LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc. and Wells Fargo Securities, LLC 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; Barclays Capital Inc. at 1-888-603-5847; Mizuho Securities USA Inc. at 1-866-271-7403; and RBC Capital Markets, LLC at 1-866-375-6829, and online at www.sec.gov.

About Valero

Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. Valero subsidiaries employ approximately 10,000 people, and its assets include 15 petroleum refineries with a combined throughput capacity of approximately 3.0 million barrels per day, 11 ethanol plants with a combined production capacity of 1.4 billion gallons per year, a 50-megawatt wind farm, and renewable diesel production from a joint venture. Through subsidiaries, Valero owns the general partner of Valero Energy Partners LP (NYSE:VLP), a midstream master limited partnership. Approximately 7,500 outlets carry the Valero, Diamond Shamrock, Shamrock, and Beacon brands in the United States and the Caribbean; Ultramar in Canada; and Texaco in the United Kingdom and Ireland. Valero is a Fortune 500 company based in San Antonio.

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

Investors: 
John Locke, Vice President – Investor Relations, 1-210-345-3077

Karen Ngo, Manager – Investor Relations, 1-210-345-4574

Media: 
Lillian Riojas, Director – Media Relations and Communications, 1-210-345-5002