{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-22-303873","form_type":"8-K","ticker":"VVV","cik":"0001674910","company_name":"VALVOLINE INC","filed_at":"2022-12-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:51.669260+00:00","generated_at":"2026-06-21T05:28:17.157734+00:00","sec_items":["1.01","2.03","5.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Valvoline enters $950M credit facility, CEO Macadam not standing for re-election","bullets":["New $950M senior secured credit facilities: $475M term loan A and $475M revolver; funds refinancing of existing debt and divestiture-related costs.","Facilities contingent on consummation of Global Products sale to Gateway Velocity, expected closing date TBD.","Stephen Macadam notified board he will not stand for re-election at 2023 annual meeting due to other commitments; no disagreement cited.","Term loan SOFR+2.000% initially, stepping to between +1.375% and +2.250% based on leverage; revolver fee 0.300% initially."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-22-303873","json":"https://secwatch.observer/filing/0001193125-22-303873.json","markdown":"https://secwatch.observer/filing/0001193125-22-303873.md","text":"https://secwatch.observer/filing/0001193125-22-303873.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1674910/000119312522303873/0001193125-22-303873-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1674910/000119312522303873/d428827d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T05:28:17.157734+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"bf203faff1abdcea85999f22088418d59cb047ce","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1674910/000119312522303873/0001193125-22-303873-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$950 million"},{"label":"Counterparty","value":"The Bank of Nova Scotia and other lenders"},{"label":"Rate","value":"Initial interest rate at adjusted Term SOFR plus 2.00% per annum (or alternate b"},{"label":"Maturity","value":"Five years"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"6c650eee1d","claim":"Stephen E. Macadam departed as Director at VALVOLINE INC.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1674910/000119312522303873/0001193125-22-303873-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"not to stand for reelection"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}