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Revlon Lenders Allege Default With Debt Deal Nearing Close (2)

May 1, 2020, 11:48 PM

A group of Revlon Inc. lenders opposing the company’s refinancing plans claims the company violated the terms of its debt agreements last year in a transaction that could complicate its efforts to rework borrowings, according to people with knowledge of the situation.

Revlon fired back, vowing to “aggressively fight” the dissenting lenders if they continue their campaign. Revlon still expects to have the necessary votes to close its deal by the deadline of 5 p.m. Friday in New York.

The lenders group sent notice of an alleged default to Citigroup Inc. as administrative agent, with respect to a borrowing transaction ...