{"id":400487,"date":"2020-12-15T17:03:32","date_gmt":"2020-12-15T22:03:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=400487"},"modified":"2020-12-15T17:03:32","modified_gmt":"2020-12-15T22:03:32","slug":"valvoline-announces-pricing-of-senior-notes-offering","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/valvoline-announces-pricing-of-senior-notes-offering\/","title":{"rendered":"Valvoline Announces Pricing of Senior Notes Offering"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n LEXINGTON, Ky.<\/span>, Dec. 15, 2020<\/span> \/PRNewswire\/ —\u00a0Valvoline Inc. (“Valvoline”) (NYSE: VVV) announced today the pricing of its previously announced offering of $535 million<\/span> aggregate principal amount of 3.625% Senior Notes due 2031 (the “Notes”). The Notes will be unsecured unsubordinated 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 offering is expected to close on Jan. 4, 2021<\/span>, subject to customary closing conditions. <\/p>\n

\n

\n
\n \"(PRNewsfoto\/Valvoline
\n <\/a>\n <\/p>\n<\/p><\/div>\n

The Notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside the United States<\/span> 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<\/span> without registration or an applicable exemption from the registration requirements. <\/p>\n

This news release shall not constitute an offer to sell, or a solicitation of an offer to buy the Notes. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.<\/p>\n

\n About\u00a0Valvoline<\/b>
\n
\n TM<\/sup>
\n <\/b>\u00a0<\/p>\n

Valvoline Inc. (NYSE: VVV) is a leading worldwide marketer and supplier of premium branded lubricants and automotive services, with sales in more than 140 countries. Established in 1866, the company’s heritage spans more than 150 years, during which time it has developed powerful brand recognition across multiple product and service channels. Valvoline ranks as the No. 3 passenger car motor oil brand in the DIY market by volume.\u00a0 It operates and franchises nearly 1,500 quick-lube locations, and it is the No. 2 chain by number of stores in the United States<\/span> under the Valvoline Instant Oil ChangeSM brand and the No. 3 chain by number of stores in Canada<\/span> under the Valvoline Great Canadian Oil Change brand. It also markets Valvoline lubricants and automotive chemicals, including Valvoline High Mileage with MaxLife technology motor oil for engines over 75,000 miles; Valvoline Advanced Full Synthetic motor oil; Valvoline Premium Blue\u2122 heavy-duty motor oil; Valvoline Multi-Vehicle Automatic Transmission Fluid; and Zerex\u2122 antifreeze. <\/p>\n

\n TM<\/sup>\u00a0Trademark, Valvoline or its subsidiaries, registered in various countries <\/p>\n

\n SM<\/sup>\u00a0Service mark, Valvoline or its subsidiaries, registered in various countries<\/p>\n

\n Forward-Looking Statements<\/b>\n <\/p>\n

Certain statements in this news release, other than statements of historical fact, including\u00a0statements related to Valvoline’s intended use of proceeds of the offering and expected closing date of the offering, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Valvoline has identified some of these forward-looking statements with\u00a0words such as “anticipates,” “believes,” “expects,” “estimates,” “is likely,” “predicts,” “projects,”\u00a0“forecasts,” “may,” “will,” “should” and “intends” and the negative of these words or other\u00a0comparable terminology. These forward-looking statements are based on Valvoline’s current\u00a0expectations, estimates, projections and assumptions as of the date such statements are made\u00a0and are subject to risks and uncertainties that may cause results to differ materially from those\u00a0expressed or implied in the forward-looking statements. Additional information regarding these\u00a0risks and uncertainties are described in the Company’s filings with the Securities and Exchange\u00a0Commission (the “SEC”), including in the “Risk Factors,” “Management’s Discussion and\u00a0Analysis of Financial Condition and Results of Operations” and “Quantitative and Qualitative\u00a0Disclosures about Market Risk” sections of Valvoline’s most recently filed periodic report on Form\u00a010-K, which is available on Valvoline’s website at http:\/\/investors.valvoline.com\/sec-filings<\/a> or on the SEC’s website at http:\/\/sec.gov<\/a>. Valvoline assumes\u00a0no obligation to update or revise these forward-looking statements for any reason, even if new\u00a0information becomes available in the future, unless required by law. <\/p>\n

\n FOR FURTHER INFORMATION
<\/b>
\n Sean T. Cornett<\/span>
\n
Senior Director, Investor Relations
+1 (859) 357-2798
scornett@valvoline.com<\/a><\/u><\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/valvoline-announces-pricing-of-senior-notes-offering-301193516.html<\/a><\/p>\n

SOURCE Valvoline Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire LEXINGTON, Ky., Dec. 15, 2020 \/PRNewswire\/ —\u00a0Valvoline Inc. (“Valvoline”) (NYSE: VVV) announced today the pricing of its previously announced offering of $535 million aggregate principal amount of 3.625% Senior Notes due 2031 (the “Notes”). The Notes will be unsecured unsubordinated 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 offering is expected to close on Jan. 4, 2021, subject to customary … <\/p>\n

Continue reading “Valvoline Announces Pricing of Senior Notes Offering”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-400487","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nValvoline Announces Pricing of Senior Notes Offering - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/valvoline-announces-pricing-of-senior-notes-offering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Valvoline Announces Pricing of Senior Notes Offering - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire LEXINGTON, Ky., Dec. 15, 2020 \/PRNewswire\/ —\u00a0Valvoline Inc. (“Valvoline”) (NYSE: VVV) announced today the pricing of its previously announced offering of $535 million aggregate principal amount of 3.625% Senior Notes due 2031 (the “Notes”). The Notes will be unsecured unsubordinated 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. 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