Revlon lifts original issue discount on $800 million term loan to 98¼

By Sara Rosenberg

New York, March 4 - Revlon Consumer Products Inc. widened the original issue discount on its $800 million term loan (Ba3/B+) to 98¼ from 99, added adding 101 hard call protection for one year and shortened the maturity to five years from seven years, according to a market source.

The company's $140 million four-year asset-based revolver (Ba2), which is priced at Libor plus 300 bps with a 75 bps commitment fee, was left unchanged.

Commitments were due at the original deadline of 5 p.m. ET on Thursday.

Citigroup is the left lead bank on the $940 million deal.

Proceeds will be used to refinance an existing credit facility, which, at Dec. 31, had $815 million outstanding under the term loan and zero drawn under the revolver.

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

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