Citicorp Agents Revlon Term Loan Amendment
Revlon announced that its wholly-owned operating subsidiary, Revlon Consumer Products (RCPC), successfully completed an amendment to its third amended and restated term loan agreement. Citicorp led a syndicate of lenders as administrative agent and collateral agent.
Pursuant to the amendment, RCPC reduced the total aggregate principal amount outstanding under the 2011 term loan facility from $788 million to $675 million, using proceeds from RCPC’s recent issuance of $500 million in aggregate principal amount of 5.75% senior notes due 2021, together with cash on hand. The amendment also reduced the interest rates applicable to the 2011 term loan facility.
RCPC’s existing asset-based, multi-currency revolving credit facility remains unchanged.
Revlon is a global color cosmetics, hair color, beauty tools, fragrances, skincare, anti-perspirant deodorants and beauty care products company.