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

Nov. 12, 2020, 3:16 PM

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 ...