SAN ANTONIO, September 19, 2013 - Valero Energy Partners LP, a wholly owned subsidiary of Valero Energy Corporation (NYSE: VLO), has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) related to its proposed initial public offering of common units representing limited partner interests. The offering is expected to occur in the first half of 2014. Valero Energy Partners LP expects the common units will trade under the ticker symbol "VLP" on the New York Stock Exchange. The number of common units to be offered and the price range for the offering have not yet been determined. Valero Energy Partners LP expects to receive gross proceeds from the offering in the amount of approximately $300 million, excluding proceeds from any exercise of the underwriters' over-allotment option to purchase additional common units.
Valero formed Valero Energy Partners LP to own, operate, develop and acquire crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets. With headquarters in San Antonio, Valero Energy Partners LP expects its initial assets to include crude oil and refined petroleum products pipeline and terminal systems in the Gulf Coast and Mid-Continent regions of the United States that are integral to the operations of Valero's refinery located in Port Arthur, Texas, its McKee refinery located in Sunray, Texas, and its refinery located in Memphis, Tennessee.
J.P. Morgan and Barclays are acting as joint book-running managers for the proposed offering. The offering will be made only by means of a prospectus. Once it becomes available, potential investors can obtain a preliminary prospectus related to this offering from:
J.P. Morgan
Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (866) 803-9204
Barclays
Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
barclaysprospectus@broadridge.com
Telephone: (888) 603-5847
When available, to obtain a copy of the preliminary prospectus free of charge, visit the SEC's website and search under "Valero Energy Partners LP".
A registration statement relating to these securities has been filed with the SEC but has not become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
Contacts
Investors: Ashley Smith, 210-345-2744, ashley.smith@valero.com
Media: Bill Day, 210-345-2928, bill.day@valero.com
Forward-Looking Statements
Statements contained in this release that state the companies' or managements' expectations or predictions of the future are forward-looking statements within the meaning of the federal securities laws. The words "believe," "expect," "should," "estimates," "intend," and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see Valero's annual reports on Form 10-K and quarterly reports on Form 10-Q and Valero Energy Partners LP's registration statement on Form S-1, filed with the Securities and Exchange Commission.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Valero Energy Corporation via Thomson Reuters ONE
HUG#1730270