Financing ·
Valvoline Inc. priced and upsized its offering of $600 million aggregate principal amount of 6.125% senior notes due…
VVVValvoline Inc
Valvoline Inc. priced and upsized its offering of $600 million aggregate principal amount of 6.125% senior notes due 2034, increasing the initial size by $100 million. The unsubordinated unsecured obligations are guaranteed by relevant subsidiaries and will close on August 24, 2026. Net proceeds will fully repay the senior secured term loan A facility, partially repay the term loan B facility, and cover fees, while concurrently amending the revolving credit facility to increase availability from $475 million to $600 million and extend maturity. This coordinated refinancing aims to strengthen the debt maturity profile and enhance liquidity. Valvoline operates in the automotive aftermarket industry, providing vehicle maintenance services such as oil changes at approximately 2,500 franchised and company-operated service centers across the United States and Canada.