Valero Energy Partners LP Announces Pricing of Initial Public Offering

SAN ANTONIO, Dec. 11, 2013 /PRNewswire/ -- Valero Energy Partners LP, a limited partnership formed by Valero Energy Corporation (NYSE: VLO, "Valero"), announced the pricing of its initial public offering of 15,000,000 common units representing limited partner interests at a price to the public of $23.00 per common unit.  The underwriters of the offering have a 30-day option to purchase up to an additional 2,250,000 common units from Valero Energy Partners. The common units will begin trading today on the New York Stock Exchange under the ticker symbol "VLP." The offering is expected to close on or about December 16, 2013, subject to customary closing conditions.

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At the closing of this offering, the public will own 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. 

The offering is being made only by means of a prospectus.  When available, copies of the prospectus may be obtained from:

J.P. Morgan
Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (866) 803-9204

Barclays
Attn: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
[email protected]
Telephone: (888) 603-5847

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
[email protected]
Telephone: (800) 831-9146

RBC Capital Markets
Attn: Equity Syndicate
Three World Financial Center
200 Vesey Street, 8th Floor
New York, NY 10281-8098
Telephone: (877) 822-4089

Wells Fargo Securities
Attn: Equity Syndicate Dept. 
375 Park Avenue 
New York, New York 10152 
Email: [email protected]
Telephone: (800) 326-5897 

A registration statement relating to these securities has been filed with and declared effective by the U.S. Securities and Exchange Commission ("SEC").  The prospectus may be obtained free of charge from the SEC's website at www.sec.gov under the registrant's name, "Valero Energy Partners LP." This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sales of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Valero Energy Partners LP
Valero Energy Partners LP is a fee-based, growth-oriented, traditional master limited partnership formed by Valero Energy Corporation to own, operate, develop and acquire crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets. With headquarters in San Antonio, Valero Energy Partners' assets include crude oil and refined petroleum products pipeline and terminal systems in the Gulf Coast and Mid-Continent regions of the United States that are integral to the operations of Valero's refinery located in Port Arthur, Texas, its McKee refinery located in Sunray, Texas, and its refinery located in Memphis, Tennessee.

Forward-Looking Statements
This press release may include forward-looking statements.  These forward-looking statements involve risks and uncertainties, including risks relating to the securities markets generally.  When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus.  Valero Energy Partners LP undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

SOURCE Valero Energy Partners LP