Valvoline Inc. has announced the commencement of an offering of $500 million aggregate principal amount of Senior Notes due 2030.
Valvoline intends to use the net proceeds from this offering to fund the redemption of all of its outstanding 5.500% Senior Notes due 2024 and to pay related fees and expenses. Valvoline intends to use the remaining net proceeds for general corporate purposes, which may include acquisitions, repayment of indebtedness under its credit facility, working capital and capital expenditures.
