Provided is a solvent borne coating composition comprising (a) one or more polymeric biocide comprising multivalent metal cations and multivalent organic anions, (b) one or more polymer-encapsulated biocide, and (c) one or more ethoxylated triglyceride that has average number of moles of ethylene oxide units per mole of triglyceride molecules of 10 to 45. Also provided are a method of making such composition and a method of using such a composition.