HOUSTON, Nov. 2 /PRNewswire/ -- Pennzoil-Quaker State Company (NYSE: PZL)
today completed its previously announced debt financing. The financing
includes the issuance of $250 million of new seven year, 10% Senior Notes. In
addition, the Company replaced its revolving credit facility with a new
$348 million bank facility, consisting of a three year $325 million revolver
and a one year $23 million revolver.
The Senior Notes have not been registered under the Securities Act of 1933
and may not be offered or sold in the U.S. absent registration or an
applicable exemption from registration requirements.
Pennzoil-Quaker State Company is a leading worldwide automotive consumer
products company, marketing over 1,300 products with 20 leading brands in more
than 90 countries. The company markets Pennzoil(R) and Quaker State(R) brand
motor oils, the number one and number two selling motor oils in the United
States. Jiffy Lube, a wholly owned subsidiary of Pennzoil-Quaker State
Company, is the world's largest fast lube operator and franchiser. For more
information about Pennzoil-Quaker State Company, visit its web site at
http://www.pennzoil-quakerstate.com/ .
SOURCE Pennzoil-Quaker State Company
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Related links:
http://www.pennzoil-quakerstate.com
Company News On-Call:
http://www.prnewswire.com/comp/684550.html
CONTACT:
media, Ray Scippa, +1-713-546-8942, or
investors, Jay Roueche, +1-713-546-4961, both of Pennzoil-Quaker
State Company
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