Valvoline’s High-Yield Senior Notes Offering

Cravath represented the initial purchasers, led by BofA Securities, Fifth Third Securities, Goldman Sachs & Co. LLC, Morgan Stanley, Scotiabank, US Bancorp and Citigroup, in connection with the $400 million 144A/Reg. S high‑yield senior notes offering of Valvoline Inc., a worldwide marketer and supplier of engine and automotive maintenance products and services. The transaction closed on May 22, 2020.

The Cravath team included partner Craig F. Arcella and associate Aashim Usgaonkar on capital markets matters, and partner Christopher K. Fargo and associate Peter W. Rogers on tax matters. Bethany E. Clarke also worked on capital markets matters.