Valero to redeem $750 million 6.125% notes, $200 million 7.2% notes

By Angela McDaniels

Tacoma, Wash., Sept. 7 – Valero Energy Corp. plans to redeem $750 million of its 6.125% senior notes due 2017 and $200 million of its 7.2% senior notes due 2017, according to a company news release.

The company will fund the redemption with the proceeds of $1.25 billion of 3.4% senior notes due 2026. That offering priced Sept. 7 and is expected to close Sept. 12.

Proceeds will also be used for general corporate purposes.

Valero is an oil refinery owner and operator based in San Antonio.

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