Aug 24, 4:12 PM ET
On August 24, 2026, Valvoline closed a $600 million offering of 6.125% senior notes maturing August 15, 2034, and plans to use the proceeds mainly to repay its senior secured term loan A in full and partly repay term loan B. The same day, it amended its credit agreement to raise the revolving credit facility from $475 million to $600 million, extend its maturity five years from August 24, 2026, and raise the maximum consolidated net leverage covenant from 4.50:1.00 to 5.00:1.00, stepping down later. The filing shows more borrowing capacity and covenant room for Valvoline, alongside new long-term debt.
- $600 million of 6.125% senior notes due August 15, 2034, closed August 24, 2026; trustee is U.S. Bank Trust Company, National Association
- Net proceeds intended to repay term loan A in full, partly repay term loan B, and pay fees and expenses
- Revolving credit facility increased from $475 million to $600 million, with pricing reduced and maturity extended
- Maximum consolidated net leverage covenant raised from 4.50:1.00 to 5.00:1.00, stepping down to 4.75:1.00 and 4.50:1.00 in years three and four
Read the filing on SEC.gov ↗
Aug 5, 7:00 AM ET
Valvoline reported third quarter results for the period ended June 30, 2026, with net revenues of $544.6 million, up 24%, and diluted EPS of $0.51, up 16%. The company raised its full-year system-wide same-store sales growth outlook to 7.5%-8% from 5%-6.5%, and narrowed its adjusted EPS outlook to $1.70-$1.75, which improves the bottom of the prior range. Management credited pricing actions while noting increased finished lubricant costs.
- Q3 net revenues of $544.6 million, up 24%; diluted EPS of $0.51, up 16%; adjusted EPS of $0.57, up 21%
- Full-year system-wide same-store sales growth outlook raised to 7.5%-8% from 5%-6.5%
- Adjusted EBITDA outlook raised to $550-$560 million from $540-$560 million; net revenues outlook raised to $2.05-$2.1 billion from $2.0-$2.1 billion
- Cash of $84 million and total debt of $1.6 billion at June 30, 2026, after a $50 million voluntary Term Loan A prepayment
Read the filing on SEC.gov ↗
Jul 23, 5:17 PM ET
Valvoline's board elected two new non-employee directors, Katherine Fogertey and Scott Mezvinsky, effective July 22, 2026. The filing describes their compensation and committee assignments, and it reports no related-party transactions that require disclosure.
- Fogertey joins the Audit Committee and Mezvinsky joins the Governance & Nominating Committee.
- Each director receives a $100,000 annual cash retainer and a pro-rated equity award with a grant date value of $70,644, granted July 22, 2026.
- The restricted stock units fully vest on July 22, 2027, subject to continued board service.
Read the filing on SEC.gov ↗
Jun 30, 5:04 PM ET
On June 30, 2026, Valvoline entered into Amendment No. 1 to its Second Amended and Restated Credit Agreement, refinancing all outstanding Term B Loans into new Refinanced Term B Loans with an aggregate principal of $738,150,000. The filing says the principal amount is unchanged after the amendment, and the pricing changed to adjusted term SOFR plus 1.75% or base rate plus 0.75%, with the maturity date unchanged.
- Aggregate principal of Refinanced Term B Loans is $738,150,000, unchanged from immediately before the amendment
- Term SOFR borrowings priced at adjusted term SOFR plus 1.75%; base rate borrowings at base rate plus 0.75%
- Quarterly amortization of 0.25% begins September 30, 2026; maturity remains seven years after December 1, 2025
- A 1.00% prepayment premium applies to certain repricing transactions in the six months after June 30, 2026
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.