HOUSTON, March 11, 2026 - Baker Botts L.L.P., a leading international energy, technology, and life sciences law firm, represented Valero Energy Corporation (NYSE: VLO) in its offering of $850 million aggregate principal amount of 5.150% Senior Notes due 2036. The transaction closed on March 10, 2026.

The notes mature on March 10, 2036, and pay interest semi-annually on March 10 and Sept. 10 of each year, beginning Sept. 10, 2026. The notes were issued under an indenture dated March 10, 2015, between Valero and U.S. Bank Trust Company, National Association, as trustee.

Valero intends to use the net proceeds for general corporate purposes, including the repayment, repurchase, or redemption of three series of debt securities maturing in 2026, which include the remaining $100 million of its 7.65% Debentures, the remaining $426 million of its 3.400% Senior Notes, and the remaining $146 million of the 4.375% Senior Notes issued by Valero Energy Partners LP and guaranteed by Valero.

The joint book-running managers for the offering included SMBC Nikko Securities America, Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc., and Wells Fargo Securities, LLC, among others.

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

For more information, Valero’s release is available here. 

Baker Botts Lawyers/Offices Involved: 

Corporate: Jamie Yarbrough (Partner, Houston); Tim Taylor (Partner, Houston); Rob Cowan (Senior Associate, Austin); Blake Vick (Associate, Houston); Brevan Ward (Associate, Houston)

Tax: Jon Lobb (Partner, Houston); Nick Frey (Associate, Houston)

Environmental: Liz Singleton (Special Counsel, Houston)

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