SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO, “Valero”) reduced its debt by approximately $300 million through the acquisition of $300 million of 4.00 percent Gulf Opportunity Zone Revenue Bonds Series 2010 (“GO Zone Bonds”). As previously disclosed, the GO Zone Bonds are due December 1, 2040, but were subject to mandatory tender on June 1, 2022 (the “Mandatory Tender Date”) at a price equal to par plus accrued and unpaid interest up to, but excluding, the Mandatory Tender Date.
This transaction, combined with debt reduction and refinancing transactions completed in the third and fourth quarters of 2021, and the first quarter of 2022, collectively reduced Valero’s debt by approximately $2.3 billion.
We are a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and we sell our products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland, and Latin America. We own 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 (BPD). We are a joint venture member in Diamond Green Diesel Holdings LLC (DGD), which owns a renewable diesel plant in Norco, Louisiana with a production capacity of 700 million gallons per year, and we own 12 ethanol plants located in the Mid-Continent region of the U.S. with a combined production capacity of approximately 1.6 billion gallons per year. We manage our operations through our Refining, Renewable Diesel, and Ethanol segments. Please visit www.investorvalero.com for more information.