Revlon to repay subordinated term loan with equity rights offering proceeds

By Sara Rosenberg

New York, Nov. 5 - Revlon Inc. plans on repaying the remaining amount under its MacAndrews & Forbes senior subordinated term loan using proceeds from a $107 million equity rights offering, according to a news release.

As was announced on Sept. 3, the company used net proceeds from the sale of its non-core Brazilian brands to repay $63 million of the $170 million subordinated term loan, which matures on Aug. 1, 2009.

Revlon is a New York-based cosmetics, hair color, beauty tools, fragrances, skincare, anti-perspirants/deodorants and personal care products company.

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