Valero to redeem all $575 million floating-rate senior notes due 2023

By Rebecca Melvin

Concord, N.H., Aug. 27 – Valero Energy Corp. said it will redeem the $575 million outstanding principal amount of its floating-rate senior notes due 2023, according to a company release.

The notes will be redeemed at par plus accrued interest up to but not including the Sept. 27 redemption date.

The redemption, which is part of the company’s previously announced plan to reduce debt, will be funded with cash on hand.

U.S. Bank NA is trustee of the notes issue.

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

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