Bloomberg Law
Nov. 12, 2020, 3:16 PM

Revlon to Avoid Bankruptcy Filing Upon Completing Debt Deal (1)

Katherine Doherty
Katherine Doherty
Bloomberg News

Revlon Inc. says it got enough support from investors to close its debt exchange and pay down remaining obligations, eliminating the potential for a bankruptcy filing in the near future.

The cosmetics company said in a statement Thursday that bondholders agreed to exchange about 69% of the company’s $343 million of bonds due 2021. Revlon had to come up with a way to pay down or otherwise eliminate the the debt by Nov. 16 to avoid triggering a cascade of other obligations coming due. Revlon said it will pay off the $106.8 million of notes not turned in to the ...