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| Revlon Consumer Products Corporation Announces Planned Refinancing of Secured Credit Agreement with Offering of Senior Secured Notes and New Credit Agreement |
NEW YORK, Nov. 6 /PRNewswire/ -- Revlon Consumer Products Corporation
announced today that it intends to refinance its existing credit facility with
the proceeds of an offering of approximately $250 million in principal amount
of senior notes due 2005 and an amended and restated secured credit agreement
providing for borrowings of approximately $325 million. It is expected that
the senior secured notes will be secured on a second priority basis by
substantially the same collateral that secures Revlon's existing credit
agreement and is expected to secure the amended and restated credit agreement.
The refinancing is expected to be consummated in late November 2001, subject
to market conditions. There can be no assurance that the refinancing will be
consummated or if consummated as to terms.
The net proceeds from the offering and borrowings under the new credit
agreement will be used by Revlon Consumer Products Corporation to repay
outstanding indebtedness and expenses arising from the offering transaction
and for general corporate purposes.
Revlon Consumer Products Corporation is a wholly owned subsidiary of
Revlon, Inc. (NYSE: REV). The notes offered will not be registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements under the Securities Act.
SOURCE Revlon Consumer Products Corporation
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CONTACT:
Media - Catherine Fisher, +1-212-527-5727; or
Investor Relations - Laura Kiernan, +1-212-527-5230, both for
Revlon Consumer Products Corporation
