Ashland to repay senior credit facility debt with new note offering

By Tali Rackner

Norfolk, Va., July 12 – Ashland Inc. plans to repay borrowings under its senior unsecured credit facilities with the proceeds from a new $375 million eight-year senior note issued by wholly owned subsidiary Valvoline Finco Two LLC, according to a press release.

Valvoline Finco will contribute the proceeds to its parent company after deducting initial purchasers’ discounts and other fees and expenses.

Ashland is a Covington, Ky.-based specialty chemicals company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.