Valero LP to sell equit, debt to fund purchases from Valero Energy

摘要

Valero LP said Mar 10 it would sell 5.75-mil common units and issue us250-mil in senior notes to finance the us350-mil acquisition of storage tanks and South Texas pipelines from majority owner Valero Energy. Independent refiner Valero Energy's roughly 73% stake in Valero LP is expected to drop ot 49.5% or less after the offering and the redemption of common units held by the refiner.