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Published on 9/8/2020 in the Prospect News Investment Grade Daily.

Valero Energy to sell dollar notes in four parts, fixed and floating

Chicago, Sept. 8 – Valero Energy Corp. plans to sell an offering of notes in four parts, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will include a floating-rate tranche and three fixed-rate tranches.

One of the tranches will be an add-on to the $650 million of 2.85% senior notes due 2025, which were issued on April 16.

The notes will have a make-whole call and a par call.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc., MUFG and Scotia Capital (USA) Inc. are the joint bookrunners.

Proceeds will be used for general corporate purposes.

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


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