Valero Energy Continues to Reduce Debt Through Mandatory Tender of $300 Million of GO Zone Bonds
01 Junho 2022 - 6:03PM
Business Wire
Valero Energy Corporation (NYSE: VLO, “Valero”) reduced its debt
by approximately $300 million through the acquisition of $300
million of 4.00 percent Gulf Opportunity Zone Revenue Bonds Series
2010 (“GO Zone Bonds”). As previously disclosed, the GO Zone Bonds
are due December 1, 2040, but were subject to mandatory tender on
June 1, 2022 (the “Mandatory Tender Date”) at a price equal to par
plus accrued and unpaid interest up to, but excluding, the
Mandatory Tender Date.
This transaction, combined with debt reduction and refinancing
transactions completed in the third and fourth quarters of 2021,
and the first quarter of 2022, collectively reduced Valero’s debt
by approximately $2.3 billion.
About Valero
We are a multinational manufacturer and marketer of
petroleum-based and low-carbon liquid transportation fuels and
petrochemical products, and we sell our products primarily in the
United States (U.S.), Canada, the United Kingdom (U.K.), Ireland,
and Latin America. We own 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 (BPD). We are a joint
venture member in Diamond Green Diesel Holdings LLC (DGD), which
owns a renewable diesel plant in Norco, Louisiana with a production
capacity of 700 million gallons per year, and we own 12 ethanol
plants located in the Mid-Continent region of the U.S. with a
combined production capacity of approximately 1.6 billion gallons
per year. We manage our operations through our Refining, Renewable
Diesel, and Ethanol segments. Please visit www.investorvalero.com
for more information.
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version on businesswire.com: https://www.businesswire.com/news/home/20220601006219/en/
Investors: Homer Bhullar, Vice President – Investor Relations
and Finance, 210-345-1982 Eric Herbort, Senior Manager – Investor
Relations, 210-345-3331 Gautam Srivastava, Senior Manager –
Investor Relations, 210-345-3992
Media: Lillian Riojas, Executive Director – Media Relations and
Communications, 210-345-5002
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