Valero Energy Partners sets terms for $300 million IPO

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Valero Energy Partners, a Valero-backed limited partnership that owns pipeline and logistics assets, announced terms for its IPO on Monday. The San Antonio, TX-based company plans to raise $300 million by offering 15.0 million shares at a price range of $19 to $21. At the midpoint of the proposed range, Valero Energy Partners would command a fully diluted market value of $1.2 billion.

Valero Energy Partners, which was founded in 2013 and booked $94 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol VLP. J.P. Morgan, Barclays, Citi, RBC Capital Markets and Wells Fargo Securities are the joint bookrunners on the deal.

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This article appears in: News Headlines , IPOs


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