Valero Energy Partners (VLP) Commences 15M Common IPO

December 2, 2013 7:25 AM EST Send to a Friend
Valero Energy Partners LP (NYSE: VLP), a limited partnership formed by Valero Energy Corporation (NYSE: VLO), has commenced an initial public offering of 15,000,000 common units representing limited partner interests pursuant to a Registration Statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission ("SEC"). The underwriters of the offering are expected to be granted a 30-day option to purchase up to an additional 2,250,000 common units from Valero Energy Partners. The common units are expected to trade on the New York Stock Exchange under the ticker symbol "VLP."

(Logo: http://photos.prnewswire.com/prnh/20131202/DA25769LOGO)

The common units being offered represent a 25.5 percent limited partner interest in Valero Energy Partners, or a 29.4 percent limited partner interest if the underwriters exercise in full their option to purchase additional common units. Valero, through certain of its subsidiaries, will own the remaining limited partner interests in Valero Energy Partners, as well as the 2 percent general partner interest.

J.P. Morgan, Barclays, Citigroup, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers for the offering. Mitsubishi UFJ Securities, SunTrust Robinson Humphrey, Credit Agricole CIB, Credit Suisse, Jefferies, Mizuho Securities, RBS and Scotiabank / Howard Weil are acting as co-managers.


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