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Revlon Consumer Products to launch $800 million term loan Wednesday
By Sara Rosenberg
New York, May 2 - Revlon Consumer Products Corp. is set to hold a bank meeting on Wednesday to launch a proposed $800 million term loan, according to a market source.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC and Natixis are the lead banks on the deal.
Proceeds will be used to refinance the company's $800 million five-year term loan that was obtained in 2010.
Pricing on the existing term loan is Libor plus 400 basis points with a 2% Libor floor, and it was sold at an original issue discount of 981/4.
Revlon is a New York-based cosmetics, hair color, beauty tools, fragrances, skincare, anti-perspirant/deodorant and beauty care products company.
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