Oriflame Lenders Pick Adviser After Assets Shifted Out of Reach

Lenders to Oriflame Holding AG have picked a financial adviser after the Swedish multi-level marketing company shifted assets away from them.

Banks, including HSBC Holdings Plc and ING Groep NV, have brought on board Teneo, according to people with knowledge of the matter, who spoke on the condition of anonymity.

That adds to their advisory roster ahead of debt restructuring talks, following the appointment of lawyers at Linklaters, the people said. The banks have a €100 million ($109 million) revolving credit facility for Oriflame that is due in October next year, according to data compiled by Bloomberg.

Representatives ...