unsubordinated unsecured obligations

Valvoline Inc. priced an upsized $600 million offering of 6.125% Senior Notes due 2034. The offering, which aims to enhance financial flexibility and strengthen its debt profile, will be used to repay its Term Loan A facility and partially repay its Term Loan B facility. The company also amended its revolving credit facility, increasing capacity and extending maturity. The Notes are offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.