
Valero Energy Corporation (NYSE:VLO, &#34;Valero&#34;)) announced today that it has priced a public offering of $850,000,000 aggregate principal amount of 5.150% Senior Notes due 2036 (the &#34;Notes&#34;).


The offering is expected

<p xmlns="http://www.w3.org/1999/xhtml">
Valero Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VLO">VLO</a>, "Valero")) announced today that it has priced a public offering of $850,000,000 aggregate principal amount of 5.150% Senior Notes due 2036 (the "Notes").

</p><p xmlns="http://www.w3.org/1999/xhtml">
The offering is expected to close on March 10, 2026, subject to the satisfaction of customary closing conditions. Valero intends to use the net proceeds from the offering for general corporate purposes, including the repayment, repurchase, or redemption of its outstanding 7.65% Debentures due 2026 and 3.400% Senior Notes due 2026 and the outstanding 4.375% Senior Notes due 2026 issued by Valero Energy Partners LP and guaranteed by Valero.

</p><p xmlns="http://www.w3.org/1999/xhtml">
SMBC Nikko Securities America, Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from SMBC Nikko Securities America, Inc. at 1 (888) 868-6856, Citigroup Global Markets Inc. at 1 (800) 831-9146, MUFG Securities Americas Inc. at 1 (877) 649-6848, and Wells Fargo Securities, LLC at 1 (800) 645-3751 and online at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54440172&amp;newsitemid=20260305106892&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=1&amp;md5=f30de98d144f20319dbbdbd12c5439a2" shape="rect">www.sec.gov</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Notes were offered and will be 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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Valero</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Valero Energy Corporation, through its subsidiaries (collectively, Valero), is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and sells its products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland and Latin America. Valero owns 15 petroleum refineries located in the U.S., Canada and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day. Valero is a joint venture member in Diamond Green Diesel Holdings LLC, which produces low-carbon fuels including renewable diesel and sustainable aviation fuel (SAF), with a production capacity of approximately 1.2 billion gallons per year in the U.S. Gulf Coast region. See the annual report on Form 10-K for more information on SAF. Valero also owns 12 ethanol plants located in the U.S. Mid-Continent region with a combined production capacity of approximately 1.7 billion gallons per year. Valero manages its operations through its Refining, Renewable Diesel, and Ethanol segments.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260305106892r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260305106892/en/" rel="nofollow">https://www.businesswire.com/news/home/20260305106892/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Valero Contacts </b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Investors:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Brian Donovan, Vice President – Investor Relations, 210-345-1682
<br xmlns="http://www.w3.org/1999/xhtml"></br>Eric Herbort, Director – Investor Relations and Finance, 210-345-3331
<br xmlns="http://www.w3.org/1999/xhtml"></br>Gautam Srivastava, Director – Investor Relations, 210-345-3992

</p><p xmlns="http://www.w3.org/1999/xhtml">
Media:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002

</p>

Valero Energy Corporation Announces Pricing of Notes Offering

Valero Energy announces $850M offering to refinance debt with lower rates

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Valero Energy Corporation (NYSE:VLO, &amp;#34;Valero&amp;#34;)) announced today that it has priced a public offering of $850,000,000 aggregate principal amount of 5.150% Senior Notes due 2036 (the &amp;#34;Notes&amp;#34;).


The offering is expected</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Valero Energy has priced a public offering of $850 million in senior notes due 2036, aimed primarily at refinancing higher-interest debt. This move is anticipated to improve cash flow by reducing interest expenses, positively impacting valuation in the long term.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Valero priced $850M of 5.150% Senior Notes due 2036.</li><li>Proceeds will repay outstanding high-interest debt.</li><li>Transaction expected to close on March 10, 2026.</li><li>Valero focuses on its refining and low-carbon fuel production.</li><li>Refinery throughput capacity stands at approximately 3.2 million barrels daily.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>SMBC Nikko Securities America, Inc. (NA)</strong>: Acted as joint manager for note offering.</li><li><strong>Citigroup Global Markets Inc. (C)</strong>: Participated as a book-running manager in debt offering.</li><li><strong>MUFG Securities Americas Inc. (MUFG)</strong>: Jointly managed the senior notes offering.</li><li><strong>Wells Fargo Securities, LLC (WFC)</strong>: Involved in the management of the note offering.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This event fits within the &#039;Corporate Developments&#039; category, as it relates to Valero’s financial strategy aimed at optimizing its debt structure and improving cash flows through refinancing.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Refinancing high-interest debt may enhance VLO’s cash flow significantly.</li><li>Future interest expense reduction expected to improve overall profitability.</li><li>Closing of the offering could lead to increased investor confidence.</li><li>Improved debt profile may elevate VLO&#039;s valuation metrics.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Valero&#039;s newly priced notes yield 5.150% and mature in 2036.</li><li>$850 million offering planned to close on March 10, 2026.</li><li>Valero aims to repurchase and redeem existing 7.65% and 3.400% notes due 2026.</li><li>Valero operates 15 refineries with 3.2 million barrels per day capacity.</li><li>Valero’s annual production capacity includes 1.2 billion gallons of low-carbon fuels.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Buy VLO ahead of debt refinancing impact, targeting short to medium-term gains.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
Valero Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VLO">VLO</a>, "Valero")) announced today that it has priced a public offering of $850,000,000 aggregate principal amount of 5.150% Senior Notes due 2036 (the "Notes").

</p><p xmlns="http://www.w3.org/1999/xhtml">
The offering is expected to close on March 10, 2026, subject to the satisfaction of customary closing conditions. Valero intends to use the net proceeds from the offering for general corporate purposes, including the repayment, repurchase, or redemption of its outstanding 7.65% Debentures due 2026 and 3.400% Senior Notes due 2026 and the outstanding 4.375% Senior Notes due 2026 issued by Valero Energy Partners LP and guaranteed by Valero.

</p><p xmlns="http://www.w3.org/1999/xhtml">
SMBC Nikko Securities America, Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from SMBC Nikko Securities America, Inc. at 1 (888) 868-6856, Citigroup Global Markets Inc. at 1 (800) 831-9146, MUFG Securities Americas Inc. at 1 (877) 649-6848, and Wells Fargo Securities, LLC at 1 (800) 645-3751 and online at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54440172&amp;newsitemid=20260305106892&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=1&amp;md5=f30de98d144f20319dbbdbd12c5439a2" shape="rect">www.sec.gov</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Notes were offered and will be 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.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About Valero</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Valero Energy Corporation, through its subsidiaries (collectively, Valero), is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and sells its products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland and Latin America. Valero owns 15 petroleum refineries located in the U.S., Canada and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day. Valero is a joint venture member in Diamond Green Diesel Holdings LLC, which produces low-carbon fuels including renewable diesel and sustainable aviation fuel (SAF), with a production capacity of approximately 1.2 billion gallons per year in the U.S. Gulf Coast region. See the annual report on Form 10-K for more information on SAF. Valero also owns 12 ethanol plants located in the U.S. Mid-Continent region with a combined production capacity of approximately 1.7 billion gallons per year. Valero manages its operations through its Refining, Renewable Diesel, and Ethanol segments.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260305106892r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260305106892/en/" rel="nofollow">https://www.businesswire.com/news/home/20260305106892/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Valero Contacts </b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Investors:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Brian Donovan, Vice President – Investor Relations, 210-345-1682
<br xmlns="http://www.w3.org/1999/xhtml"></br>Eric Herbort, Director – Investor Relations and Finance, 210-345-3331
<br xmlns="http://www.w3.org/1999/xhtml"></br>Gautam Srivastava, Director – Investor Relations, 210-345-3992

</p><p xmlns="http://www.w3.org/1999/xhtml">
Media:
<br xmlns="http://www.w3.org/1999/xhtml"></br>Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002

</p>

Valero Energy has priced a public offering of $850 million in senior notes due 2036, aimed primarily at refinancing higher-interest debt. This move is anticipated to improve cash flow by reducing interest expenses, positively impacting valuation in the long term.

Valero Energy Corporation Announces Pricing of Notes Offering

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News