We advised the joint book-running managers on the offering

Davis Polk advised the joint book-running managers on an SEC-registered offering by Valero Energy Corporation of $850 million aggregate principal amount of its 5.150% senior notes due 2031.

Valero Energy Corporation, through its subsidiaries, is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products. Valero sells its products primarily in the United States, Canada, the United Kingdom, Ireland and Latin America. Valero owns 15 petroleum refineries located in the United States, Canada and the United Kingdom, 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 owns two renewable diesel plants located in the Gulf Coast region of the United States, with a combined production capacity of approximately 1.2 billion gallons per year. Valero also owns 12 ethanol plants located in the Mid-Continent region of the United States with a combined production capacity of approximately 1.7 billion gallons per year.

The Davis Polk capital markets team included partners Richard D. Truesdell Jr. and Hillary A. Coleman and associate Hope Goimarac. The tax team included counsel Dustin Plotnick and associate Nancy B. Regan. Counsel Michael Comstock and associate David Sacasa-Ospina provided environmental advice. All members of the Davis Polk team are based in the New York office.

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