The investment-grade notes are due 2030

Davis Polk advised the joint book-running managers on an SEC-registered offering by Valero Energy Corporation of $650 million aggregate principal amount of its 5.150% senior notes due 2030.

Valero Energy Corporation, through its subsidiaries (collectively, Valero), is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products. Valero owns 15 petroleum refineries located in the United States, Canada and the United Kingdom with a combined throughput capacity of approximately 3.2 million barrels per day. Valero also owns 12 ethanol plants located in the mid-continent region of the United States with a combined production capacity of approximately 1.7 billion gallons per year. In addition, Valero is a joint venture member in Diamond Green Diesel Holdings LLC, which produces low-carbon fuels including renewable diesel and sustainable aviation fuel with a production capacity of approximately 1.2 billion gallons per year in the U.S. Gulf Coast region.

The Davis Polk capital markets team included partners Richard D. Truesdell Jr. and Hillary A. Coleman and associate Xuanling Xu. The tax team included counsel Yixuan Long and associate Michael Mirabella. Counsel Michael Comstock provided environmental advice. All members of the Davis Polk team are based in the New York office.

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