By Paul A. Harris
St. Louis, Nov. 13 - Revlon Consumer Products Corp. priced a $330 million issue of 9¾% six-year senior secured notes (B3/B-/) at 98.90 to yield 10% on Friday, according to a market source.
The yield printed atop price talk.
Citigroup Global Markets Inc., Bank of America Merrill Lynch, Credit Suisse Securities and J.P. Morgan Securities Inc. were joint bookrunners.
The notes are secured by a second lien on term loan collateral.
Proceeds, together with other cash, will be used to fund the tender for $340.5 million of the company's 9½% senior notes due April 2011.
Revlon is a New York City-based cosmetics, hair color, beauty tools, fragrances, skincare, anti-perspirants/deodorants and beauty care products company.
| Issuer: | Revlon Consumer Products Corp.
|
| Face amount: | $330 million
|
| Proceeds: | $326.37 million
|
| Maturity: | Nov. 15, 2015
|
| Securities: | Senior secured notes
|
| Bookrunners: | Citigroup Global Markets Inc., Bank of America Merrill Lynch, Credit Suisse Securities, J.P. Morgan Securities Inc.
|
| Coupon: | 9¾%
|
| Price: | 98.90
|
| Yield: | 10%
|
| Call protection: | Three years
|
| Trade date: | Nov. 13
|
| Settlement date: | Nov. 23
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B-
|
| Distribution: | Rule 144A/Regulation S with registration rights
|
| Price talk: | 10% area
|
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