Loan & DebtJun 30, 2026, 05:12 PM
Valvoline Refinances $738.15M Term B Loans
AI Summary
Valvoline Inc. entered into Amendment No. 1 to its Second Amended and Restated Credit Agreement, refinancing its existing Term B Loans. The amendment converts Initial Term B Loans into new Refinanced Term B Loans, maintaining an aggregate principal amount of $738,150,000. The Refinanced Term B Loans will bear interest at adjusted term SOFR plus 1.75% or base rate plus 0.75%, with quarterly amortization and a maturity date seven years after December 1, 2025.
Key Highlights
- Refinanced Term B Loans maintain an aggregate principal amount of $738,150,000.
- Interest rate options: adjusted term SOFR plus 1.75% or base rate plus 0.75%.
- Quarterly amortization of 0.25% of principal, commencing September 30, 2026.
- Maturity date for Term B Facility remains seven years after December 1, 2025.
- A 1.00% premium applies for certain repricing transactions within six months.
Price Impact
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