VALVOLINE INC 8-K

What Happened Valvoline Inc. announced Amendment No. 1 to its Second Amended and Restated Credit Agreement, effective June 30, 2026, which refinanced the company’s outstanding Term B loans. The previously outstanding Term B loans were replaced by a new class of Refinanced Term B Loans; some lenders converted their loans on a cashless roll basis while others (including The Bank of Nova Scotia) funded new cash loans to cover conversions not rolled.

Key Details

• Aggregate principal of Refinanced Term B Loans after the amendment: $738,150,000 (unchanged from immediately prior to the amendment).
• Interest options at Valvoline’s election: adjusted term SOFR + 1.75% or base rate + 0.75% per annum.
• Amortization: quarterly principal payments of 0.25% beginning Sept 30, 2026; remaining balance due at maturity.
• Maturity: remains seven years after Dec 1, 2025 (maturity date: Dec 1, 2032). Prepayment right includes a 1.00% premium for certain repricing transactions during the six months after the amendment.

Why It Matters This amendment refinances the company’s Term B tranche without changing the total principal amount, while keeping the original maturity. For investors, that means Valvoline preserved its principal repayment timetable but may see interest costs move with the chosen rate option (SOFR-based or base rate). Quarterly amortization and the repricing prepayment premium may affect near-term cash flow planning. The amendment does not otherwise change other material terms of the credit agreement.