Valvoline Inc. has commenced an offering of $535 million aggregate principal amount of Senior Notes due 2031 (the “Notes”). The Notes will be unsubordinated unsecured obligations of Valvoline. Each of Valvoline’s subsidiaries that guarantees Valvoline’s obligations under its existing senior secured credit facilities will guarantee the Notes on an unsubordinated unsecured basis. 

Valvoline intends to use the net proceeds from the offering, together with cash and cash equivalents on hand, to fund the redemption of all its outstanding 4.375% Senior Notes due 2025 and to pay related fees and expenses.

The Notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been and will not be registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.