Key Developments: Revlon Inc (REV)

REV on New York Consolidated

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20 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Revlon Inc's Revlon Consumer Products Corporation Completes Private Offering Of $500 Million 5.75% Senior Notes Due 2021
Friday, 8 Feb 2013 10:49am EST 

Revlon Inc's Revlon Consumer Products Corporation announced that it has completed its previously announced private offering of $500 million aggregate principal amount of 5.75% senior unsecured notes due February 15, 2021 (the Notes). The Notes are 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 its 9¾% Senior Secured Notes due November 2015 (the 9¾% Senior Secured Notes"); pay the applicable premium 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 debt reduction transactions such as repaying a portion of its 2011 Term Loan Facility due November 2017 and repaying the contributed loan portion of its Amended and Restated Senior Subordinated Term Loan at maturity in October 2013.  Full Article

Revlon Inc Announces Pricing Of $500 Million 5.75%Senior Notes due 2021
Tuesday, 5 Feb 2013 04:20pm EST 

Revlon Inc announced that its wholly-owned operating subsidiary, Revlon Consumer Products Corporation, priced its previously-announced notes offering, setting the interest rate on $500 million aggregate principal amount of senior unsecured notes due 2021 at 5.75%. The Notes will be guaranteed by RCPC's domestic subsidiaries, which also currently guarantee RCPC's term loan and asset-based revolving credit facility. The transaction is expected to close on February 8, 2013, subject to a number of customary closing conditions. RCPC intends to use the net proceeds from the offering to: (i) 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 its 9.75% Senior Secured Notes due November 2015; (ii) pay the applicable premium and accrued interest, along with related fees and expenses, on the 9.75% Senior Secured Notes that are subsequently redeemed by RCPC following the tender offer; (iii) pay applicable fees and expenses incurred in connection with the offering, the tender offer and any redemption; and (iv) use the remaining balance available for general corporate purposes, including debt reduction transactions such as repaying a portion of its 2011 Term Loan Facility due November 2017 and repaying the contributed loan portion of its Amended and Restated Senior Subordinated Term Loan at maturity in October 2013.  Full Article

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.  Full Article

Revlon Inc Announces Regular Dividend on Series A Preferred Stock
Wednesday, 12 Dec 2012 04:15pm EST 

Revlon Inc announced that Board of Directors has declared a Regular Dividend of $0.167016 per share on the Series A Preferred Stock for the period from October 9, 2012 through January 8, 2013 (representing a 92-day period). The Regular Dividend is payable on January 8, 2013 to holders of record of the Series A Preferred Stock at the close of business on December 28, 2012.  Full Article

Revlon Inc Sees FY 2013 Charge Guidance
Thursday, 25 Oct 2012 07:41am EDT 

Revlon Inc announced that annualized cost reductions are expected to be approximately $10 million, $9 million of which is expected to benefit fiscal 2013. Restructuring and related charges are expected to be approximately $25 million, $24.1 million of which was recorded in the third quarter of 2012, including $21.0 million in restructuring charges, $1.6 million as a reduction to net sales, $1.1 million in cost of goods sold, and $0.4 million in selling, general and administrative expenses. Of the total expected charges of $25 million, $23 million will be cash that is expected to be paid over the next 18 months.  Full Article

Revlon Inc Announces Regular Dividend on Series A Preferred Stock
Tuesday, 18 Sep 2012 04:15pm EDT 

Revlon Inc announced that its Board of Directors has declared a Regular Dividend of $0.165161 per share on the Series A Preferred Stock for the period from July 9, 2012 through October 8, 2012 (representing 91 days out of a 366-day year). The Regular Dividend referred to in this press release is payable on October 8, 2012 to holders of record of the Series A Preferred Stock at the close of business on September 28, 2012.  Full Article

Revlon Inc To Cut 250 Jobs, Close Plants-Reuters
Wednesday, 5 Sep 2012 09:42am EDT 

Reuters reported that Revlon Inc said it will cut about 250 jobs as it realigns its operations and will take a related charge of about $25 million in the third quarter. The Company said it will exit manufacturing facilities in Maryland and France, resize its French and Italian organizations and consolidate its operations in Latin America and Canada operations.  Full Article

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Henkel to buy three U.S. hair care brands for $370 million

FRANKFURT/LONDON - Germany's Henkel will buy three U.S. hair care companies for 270 million euros ($370 million) in cash as the household products and industrial glues maker aims to strengthen its business with hair salons.

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