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Valero Energy Corporation, an oil refining, retailing and ethanol producing company, completed public offering of 4.5% senior notes due 2015, for gross proceeds of $400 million. The notes were issued at a price of 99.736% and interest on the notes payable on February 1st and august 1st of every year. The notes were issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. Banc of America Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. are acting as joint book running managers in the offering.
The company intends to use the net proceeds from the offering for general corporate purposes, including the refinancing of debt.
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