09:38 AM EDT, 03/14/2024 (MT Newswires) -- Valvoline ( VVV ) said Thursday it has initiated a tender offer to buy its outstanding 4.25% senior notes due 2030 to meet asset sale covenant requirements.

The company said the offer, which expires at 5:00 pm ET on April 12, offers $1,000 per $1,000 principal amount of notes tendered, along with accrued and unpaid interest. Holders can withdraw tendered notes before the expiration time, it added.

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