SLR Credit Solutions closed a $130 million senior secured last out term loan for Revlon, which used proceeds from the transaction to refinance existing debt and to provide enhanced liquidity and flexibility.
Revlon completed the Elizabeth Arden acquisition. As previously announced, Citigroup Global Markets and Bank of America Merrill Lynch provided financing to support the merger.
Elizabeth Arden amended its existing credit facility to permit certain of its foreign subsidiaries to make borrowings under the amended credit facility.
Revlon will acquire Elizabeth Arden in a deal valued at $870 million. BofA Merrill Lynch and Citigroup Global Markets have committed $2.6 billion to fund the acquisition.
Elizabeth Arden has entered into an agreement with JPMorgan Chase to amend its existing second lien credit agreement, which extends the maturity date to October 16, 2017.