June 4, 2009 (FinancialWire) — Valero Energy Corp. (NYSE: VLO) has priced its public offering of 40 million shares of common stock at a price of $18 per share. Barclays Capital (NYSE: BCS) and J.P. Morgan Securities (NYSE: JPM) are the joint book-runners

The offering is scheduled to close on June 9. The company has also granted the underwriters an option to purchase an additional six million shares of common stock.

Valero plans to use the net proceeds of the offering for general corporate purposes, including its capital spending program as well as recently completed and pending acquisitions.

San Antonio, Texas-based Valero Energy owns and operates 16 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of around three million barrels per day. Valero is also an ethanol producer with seven ethanol plants in the Midwest at a combined capacity of 780 million gallons per year.

The company is also a retail operator with around 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under the Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon brands.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.