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Revlon Inc Announces Proposed Offering Of Senior Notes

Tuesday, 5 Feb 2013 06:46am EST 

Revlon Inc announced that wholly owned operating subsidiary, Revlon Consumer Products Corporation (RCPC), intends to offer $400 million aggregate principal amount of senior unsecured notes due 2021 (the Notes). It is expected that the Notes will be guaranteed by RCPC's domestic subsidiaries, which also currently guarantee RCPC's term loan and asset-based revolving credit facility. RCPC intends to use the net proceeds from the offering to pay the tender offer consideration, including applicable consent payments, in connection with RCPC's previously-announced cash tender offer to purchase any and all of the $330 million outstanding aggregate principal amount of 9¾% Senior Secured Notes due November 2015 (the 9¾% Senior Secured Notes); pay the applicable and accrued interest, along with related fees and expenses, on the 9¾% Senior Secured Notes that are subsequently redeemed by RCPC following the tender offer; pay applicable fees and expenses incurred in connection with the offering, the tender offer and any redemption; and use the remaining balance available for general corporate purposes, including to pay an approximately $19.5 million excess cash flow payment due in April 2013 on 2011 Term Loan Facility and to repay together with existing liquidity all of the contributed loan portion of Amended and Restated Senior Subordinated Term Loan at maturity in October 2013. 

Company Quote

-0.19 -0.62%
31 Jul 2014