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Revlon Climbs; Judge Okays $200m Borrowing Under Bankruptcy Loan

Aug. 1, 2022, 7:23 PM

(Updates to include stock activity)

Revlon Inc.’s bankruptcy judge will allow the cosmetics giant to draw on a further $200 million of debtor-in-possession financing pending certain tweaks to the deal. Shares rose 92% before a volatility pause, and extended the advance to 106% after trading resumed.

  • US Bankruptcy Judge David Jones said he would approve the financing as long as Revlon boosts a budget set aside for low-ranking creditors to investigate controversial pre-bankruptcy debt deals,among other modifications discussed in a hearing Monday
    • Jones already allowed Revlon to borrow $375 million of the cash on an interim basis shortly ...