Valero begins offering of common units

Valero Energy Partners LP (NYSE: VLP) has begun an underwritten public offering of 4,250,000 common units representing limited partner interests.

In connection with the offering, the Partnership intends to grant the underwriter a 30-day option to purchase up to an additional 637,500 common units.

The Partnership expects to use the net proceeds from this offering for general partnership purposes, which may include funding future acquisitions, investments and other capital expenditures, and repayment of its outstanding indebtedness.

JP Morgan is acting as the sole underwriter for the offering.

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