Valero Energy Corporation
Valero Energy Corporation Extends Credit Facility Maturity Date
Summary
Valero Energy Corporation has amended and restated its existing revolving credit agreement to extend the maturity from November 22, 2027, to October 16, 2030. The amended Credit Facility provides for a revolving credit facility in an aggregate principal amount of up to $4,000,000,000 with a letter of credit subfacility of up to $2,400,000,000. Borrowings under the Credit Facility bear interest at either the Term SOFR Rate plus a margin or the Alternate Base Rate plus a margin, depending on the Company's ratings. The Credit Facility also requires the Company to pay a commitment fee and other customary fees.
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About Valero Energy Corporation
Valero Energy Corporation is a leading international manufacturer and marketer of transportation fuels and petrochemical products. Operating as an independent petroleum refiner, Valero plays a crucial role in the energy sector, producing essential fuels like gasoline, diesel, and jet fuel. The company operates multiple refineries and ethanol plants across various strategic locations, primarily in the United States and Canada, optimizing access to feedstock supplies and distribution networks. One of Valero's distinguishing features is its commitment to sustainable and environmentally responsible practices, investing in renewable diesel production and reducing carbon emissions. As a key player in the energy market, Valero supplies a broad portfolio of customers, including retail outlets, wholesalers, and enterprise clients, leveraging its extensive logistic capabilities. Founded in 1980 and headquartered in San Antonio, Texas, Valero Energy Corporation significantly contributes to global energy supply chains while continuously adapting to changing regulatory and market dynamics.
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