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Get filing alertsValvoline refinances $738M term loan at SOFR+1.75%
Filed June 30, 2026 · Period ending June 30, 2026 · ~1 min read
Key Changes
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Refinanced $738.15M term loan facility through combination of cashless rollovers by existing lenders and new cash-funded loans from Bank of Nova Scotia, maintaining same principal amount and December 2032 maturity.
Item 1.01 verify on EDGAR → -
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New interest rate set at SOFR+1.75% for SOFR-based borrowings or base rate+0.75% for base rate borrowings.
Item 1.01 verify on EDGAR → -
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Quarterly amortization remains 0.25% of principal starting September 30, 2026, with balance due at maturity; 1% prepayment premium applies to certain repricing transactions within six months.
Item 1.01 verify on EDGAR →
Summary
Valvoline refinanced its $738.15 million term loan facility on June 30, 2026, through Amendment No. 1 to its credit agreement. The refinancing was executed via a mix of cashless rollovers by existing lenders and new cash-funded loans from The Bank of Nova Scotia. The new pricing is SOFR+1.75% for SOFR-based borrowings or base rate+0.75% for base rate borrowings.
The refinancing maintains the existing maturity date of December 1, 2032 (seven years from the original December 2025 agreement date) and the same quarterly amortization schedule of 0.25% of principal beginning September 30, 2026. A 1% prepayment premium applies to certain repricing transactions occurring within six months of the amendment effective date, protecting lenders from immediate further refinancing. This is a routine debt management action that adjusts the company's interest rate terms while preserving the facility's structure and timeline.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Valvoline refinanced its $738.15M term loan at a lower interest rate of SOFR+1.75%, down from prior terms.
Added in current filing · verify on EDGAR →
On June 30, 2026 (the “Amendment No. 1 Effective Date”), Valvoline Inc. (“Valvoline”) entered into Amendment No. 1 (the “Amendment”) to the Second Amended and Restated Credit Agreement, dated as of December 1, 2025 (as amended, restated, supplemented or otherwise modified from time to time prior to the Amendment No. 1 Effective Date, the “Credit Agreement”), among Valvoline, certain subsidiaries of Valvoline party thereto as loan parties, the lenders party thereto and The Bank of Nova Scotia, as administrative agent (in such capacity, the “Administrative Agent”).
Valvoline amended its credit agreement to refinance its existing Term B Loans. The refinancing was executed through a combination of cashless rollovers by existing lenders and new cash-funded loans from The Bank of Nova Scotia. The total principal amount remains unchanged at $738.15 million.
Show 2 minor / wording changes
Added in current filing · verify on EDGAR →
The Refinanced Term B Loans remain subject to quarterly amortization at a rate of 0.25% of the aggregate principal amount, commencing September 30, 2026, with the remaining balance due on the maturity date for the Term B Facility. The maturity date for the Term B Facility remains the date that is seven years after December 1, 2025.
The refinanced loans maintain the same amortization schedule of 0.25% quarterly starting September 30, 2026, and the same maturity date of seven years from December 1, 2025 (December 1, 2032). The refinancing did not extend the maturity or change the repayment structure.
Added in current filing · verify on EDGAR →
The Refinanced Term B Loans may be prepaid in accordance with the Amended Credit Agreement, including a 1.00% premium for certain repricing transactions occurring during the six-month period following the Amendment No. 1 Effective Date.
Valvoline can prepay the refinanced loans, but certain repricing transactions within six months of June 30, 2026 will incur a 1% premium. This provision protects lenders from immediate further refinancing at lower rates.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify