By Andrea Heisinger
New York, Feb. 3 - Valero Energy Corp. sold $1.25 billion of senior notes (Baa2/BBB/BBB) late on Wednesday in two tranches, a source close to the sale said.
Full terms were not available at press time due to the lateness of pricing.
A $400 million tranche of 4.5% five-year notes priced to yield Treasuries plus 215 basis points.
An $850 million tranche of 6.125% 10-year notes was sold at Treasuries plus 250 bps.
Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities and J.P. Morgan Securities Inc. were the bookrunners.
Proceeds will be used for general corporate purposes, including refinancing debt.
The oil refinery is based in San Antonio.
| Issuer: | Valero Energy Corp.
|
| Issue: | Senior notes
|
| Amount: | $1.25 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities, J.P. Morgan Securities Inc.
|
| Trade date: | Feb. 3
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Maturity: | 2015
|
| Coupon: | 4.5%
|
| Spread: | Treasuries plus 215 bps
|
|
|
| 10-year notes
|
| Amount: | $850 million
|
| Maturity: | 2020
|
| Coupon: | 6.125%
|
| Spread: | Treasuries plus 250 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
