VALVOLINE INC (VVV): debt financing — Valvoline closes $593M Breeze Autocare buy, funds via $740M term loan, divests 45 stores

VALVOLINE INC

Net purchase price of $593M for OC IntermediateCo, owner of Breeze Autocare and Oil Changers quick-lube stores.
Acquisition funded by new $740M incremental term loan B (SOFR+2.0%, 7-year maturity).
Divested 45 Breeze Autocare stores to Main Street Auto Express Oil as required by FTC clearance.
CEO Lori Flees says deal accelerates network growth and expands customer reach.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VALVOLINE INC incurred term loan of $740 million with The Bank of Nova Scotia at adjusted term SOFR plus 2.000% per annum maturing seventh anniversary of the Closing Date.

Instrument: term loan
Principal: $740 million
Counterparty: The Bank of Nova Scotia
Rate: adjusted term SOFR plus 2.000% per annum
Maturity: seventh anniversary of the Closing Date
Event: incurrence

Exact text from the filing

The Amendment, among other things, provides for the establishment of a new $740 million incremental senior secured term loan B credit facility (the “Incremental Term Facility”), which was made available in a single drawing on the Closing Date, and which has a maturity date of the seventh anniversary of the Closing Date.

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311 debt financings filed in the last 30 days. Browse all debt financings →

VALVOLINE INC filing history →

Source: SEC EDGAR

accession 0001674910-25-000136

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