Revlon Consumer Products amended its credit facility to include a new $41.5 million senior securities first in, last out tranche under its ABL agreement.

According to a related 8-K filing, Citibank served as administrative agent, collateral agent, issuing lender and swingline lender for the transaction. Citibank Global Markets, Merrill Lynch and Wells Fargo were joint lead arrangers.

The new $41.5 million senior secured first in, last out tranche was established under the amended revolving credit facility, while the existing $400 million tranche (tranche A) under the existing revolver became a senior secured last in, first out tranche.

The amendment provides for the availability and repayment terms of each tranche,

The borrowing base calculation under the amended revolving credit facility for the tranche B is based on the sum of 10% of eligible accounts receivable and the lesser of 10% of the net orderly liquidation value and a percentage of the value specified in respect of different types of eligible inventory, which are collectively subject to certain availability reserves set by the administrative agent.

Tranche B matures on April 17, 2019. Tranche A under the amended revolver continues to mature on the earlier of September 7, 2021 and the 91st day prior to the maturity of products corporation’s 5.75% senior notes if, on that date, any of Revlon’s 5.75% senior notes remain outstanding and Revlon’s available liquidity does not exceed the aggregate principal amount of its then outstanding 5.75% senior notes by at least $200 million.