Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
VALVOLINE INC amended credit facility of $950 million with The Bank of Nova Scotia and other lenders at Initial interest rate at adjusted Term SOFR plus 2.00% per annum (or alternate b maturing Five years.
- Instrument
- credit facility
- Principal
- $950 million
- Counterparty
- The Bank of Nova Scotia and other lenders
- Rate
- Initial interest rate at adjusted Term SOFR plus 2.00% per annum (or alternate b
- Maturity
- Five years
- Event
- amendment
Exact text from the filing
the Amendment and Restatement Agreement, the “ Amended and Restated Credit Agreement ”). The Amended and Restated Credit Agreement provides for an aggregate principal amount of $950 million in senior secured credit facilities (the “ Valvoline Credit Facilities ”), comprised of (i) a five-year $475 million term loan A facility (the “ Term Loan Facility ”) and (ii) a
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Executive change
SEC 8-K Item 5.02
confidence 0.95
Stephen E. Macadam departed as Director at VALVOLINE INC.
- Action
- not to stand for reelection
- Role
- Director
Exact text from the filing
On December 7, 2022, Stephen E. Macadam notified the Board of Directors (the “Board”) of Valvoline of his intention not to stand for reelection upon expiration of his term as a Director at Valvoline’s 2023 Annual Meeting of Shareholders due to other commitments which would make it difficult for him to devote the time necessary to fulfill his duties as a director of Valvoline.
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