Valvoline draws $450 million under revolving credit facility

By Sara Rosenberg

New York, March 26 – Valvoline Inc. borrowed $450 million under its $475 million revolving credit facility due April 12, 2024, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Bank of Nova Scotia is the administrative agent on the deal.

Pricing on the revolver is Libor plus 150 basis points, based on the company’s current corporate credit ratings.

Valvoline is a Lexington, Ky.-based supplier of lubricants and automotive services.

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