Valero Energy Stock Price, News & Analysis

Valero Energy (NYSE: VLO) has announced pricing for its Maximum Tender Offer for various Senior Notes, including 1.200% Notes due 2024 and 3.650% Notes due 2025. The Maximum Aggregate Purchase Price is sufficient for all validly tendered 2039 Notes. As of December 2, 2021, significant amounts of the 2024, 3.650% 2025, 2026, and 2039 Notes have been tendered, exceeding the purchase limit. Valero will not accept all tendered notes, particularly from 2.850% 2025 and other series. The offer expires December 16, 2021.

Valero Energy Corporation (NYSE: VLO) announced the early results of its cash tender offer, increasing its maximum purchase price to buy all validly tendered 2039 Notes. The company has eliminated the Series Tender Cap for certain notes, allowing for a broader acceptance of valid tendered notes. As of December 2, 2021, the aggregate principal amount tendered significantly exceeded the Maximum Aggregate Purchase Price, indicating strong demand. Valero plans to settle accepted notes by December 6, 2021, while the Maximum Tender Offer expires on December 16, 2021.

Valero Energy Corporation (NYSE: VLO) announced the redemption of all outstanding principal of its 2.700% Senior Notes due 2023, following a tender offer that collected $594.5 million in valid tenders. The redemption date is set for December 29, 2021. The total principal amount of the Notes outstanding prior to the tender offer was $850 million. The redemption price will be either 100% of the principal or the present value of remaining payments, plus accrued interest. A notice will be sent to all registered holders of the Notes by the U.S. Bank National Association.

Valero Energy Corporation (NYSE: VLO) announced the expiration of its cash tender offer for outstanding 2.700% Senior Notes due 2023, which expired on November 24, 2021. A total of $594.52 million of the notes were validly tendered. Valero expects to pay $1,025.65 for each $1,000 principal of the notes accepted for payment, plus accrued interest, on November 30, 2021. The company plans to fund this purchase via proceeds from a new Senior Notes offering and cash on hand.

Valero Energy Corporation (NYSE: VLO) has announced the pricing terms for its cash tender offer for its outstanding 2.700% Senior Notes due 2023. The offer is set to expire at 5:00 p.m. New York time today, November 24, 2021. The Total Consideration for each $1,000 principal amount of notes validly tendered is $1,025.65, with additional accrued interest. The company may terminate or extend the offer at its discretion, and holders are encouraged to review the Offer to Purchase for full details.

Valero Energy Corporation (NYSE: VLO) has announced a public offering of $500 million in 2.800% Senior Notes due 2031 and $950 million in 3.650% Senior Notes due 2051. The offering is set to close on November 29, 2021. Proceeds from this offering, along with $750 million in cash, will be used to finance cash tender offers for various existing senior notes. Any remaining proceeds will be allocated for general corporate purposes. The notes were offered under an effective shelf registration statement with the SEC.

Valero Energy Corporation (NYSE: VLO) has initiated two cash tender offers for its outstanding senior notes. The Any and All Tender Offer targets all 2.700% Senior Notes due 2023, totaling $850,000,000. The Maximum Tender Offer aims to purchase up to $1,000,000,000 across various notes due from 2024 to 2039. The Any and All Tender Offer expires on November 24, 2021, while the Maximum Tender Offer concludes at midnight on December 16, 2021.

Valero Energy Corporation (NYSE: VLO) has announced a quarterly cash dividend of $0.98 per share, payable on December 9, 2021 to shareholders of record as of November 18, 2021. Valero, headquartered in San Antonio, Texas, is a leading producer of transportation fuels and petrochemical products, operating 15 refineries with a total throughput capacity of approximately 3.2 million barrels per day and 12 ethanol plants with a combined capacity of 1.6 billion gallons annually.

Valero Energy reported a net income of $463 million, or $1.13 per share, for Q3 2021, a significant turnaround from a net loss of $464 million in Q3 2020. Adjusted net income reached $500 million, or $1.22 per share. The refining segment generated $835 million in operating income, with throughput averaging 2.9 million barrels per day. Valero returned $400 million to stockholders via dividends and completed major projects, including the Diamond Green Diesel expansion and Pembroke Cogeneration Unit. The company holds $14.2 billion in debt and $3.5 billion in cash.