Revlon Holdings, a wholly owned indirect foreign subsidiary of Revlon Consumer Products, and its subsidiaries entered into an asset-based term loan credit agreement with Citibank as administrative agent.
According to a related 8-K filing, the facility provides for a euro-denominated senior secured asset-based term loan facility in an aggregate principal amount of €77 million ($90 million), the full amount of which was funded on the closing date. The asset-based term facility has an uncommitted incremental facility to which it may be increased from time to time by up to €43 million ($50 million), subject to certain conditions and the agreement of the lenders providing such an increase.
The proceeds of the loans will be used for working capital and other general corporate purposes. The asset-based term facility matures on July 9, 2021.
Revlon manufactures, markets and sells a range of beauty and personal care products, including color cosmetics, hair color, hair care and hair treatments.