Valvoline launches USD 500 million senior notes offering due 2034
VVV•Terms and related financing actions
The notes are to be unsubordinated, unsecured obligations, guaranteed on the same basis by subsidiaries backing its senior secured credit facilities.
In a separate plan, Valvoline intends to amend its revolving credit facility to lift availability to USD 600 million, cut pricing, and extend maturity by five years.
Valvoline launches senior notes offering
Valvoline launched an offering of USD 500 million Senior Notes due 2034.
Proceeds are earmarked to repay its senior secured term loan A in full, reduce term loan B, and cover related fees.
