$VVV (VALVOLINE) — 8-K: Valvoline launches $500 million senior notes offering due 2034

Valvoline commenced an offering of $500,000,000 aggregate principal amount of Senior Notes due 2034. Net proceeds, together with cash on hand, will repay in full its senior secured term loan A facility and partially repay its senior secured term loan B facility. Concurrently, Valvoline intends to amend its revolving credit facility to increase availability from $475 million to $600 million, reduce pricing, and extend maturity to five years after the amendment effective date. The coordinated refinancing is intended to strengthen the debt maturity profile and enhance liquidity.

Valvoline commenced an offering of $500,000,000 aggregate principal amount of Senior Notes due 2034. Net proceeds, together with cash on hand, will repay in full its senior secured term loan A facility and partially repay its senior secured term loan B facility. Concurrently, Valvoline intends to amend its revolving credit facility to increase availability from $475 million to $600 million, reduce pricing, and extend maturity to five years after the amendment effective date. The coordinated refinancing is intended to strengthen the debt maturity profile and enhance liquidity.