News Releases

Valero Completes $300 Million Notes Offering

Valero Energy Corporation, on June 4, 2003, completed the sale of $300 million of its 4.75% Notes due 2013. The lead underwriters were J.P. Morgan Securities Inc., Barclays Capital Inc. and Morgan Stanley & Co. Incorporated.

Valero Energy Corporation is a Fortune 500 company based in San Antonio, Texas with approximately 20,000 employees and annual revenues of nearly $27 billion. Valero currently owns and operates 12 refineries in the United States and Canada with a combined throughput capacity of approximately 1.9 million barrels per day. Valero produces premium, environmentally clean products, such as reformulated gasoline, gasoline and diesel fuel meeting the specifications of the California Air Resources Board; low-sulfur diesel fuel and oxygenates; and a substantial slate of conventional gasoline, distillates, jet fuel, asphalt and petrochemicals. Valero is also a leading marketer of refined products.

Team: Joel Swanson, Gerald Spedale, Matt Kuryla and Patrick Whitman, all of Houston, represented Valero.