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Revlon plans paydown, subordinated loan repayment with notes proceeds
By Sara Rosenberg
New York, Feb. 5 - Revlon Consumer Products Corp. plans to make a $19.5 million excess cash flow payment on its term loan and repay its senior subordinated term loan in full at maturity in October 2013 using proceeds from a senior notes offering and existing liquidity, according to a news release.
The notes offering totals $500 million, after being upsized from $400 million.
Remaining proceeds from the notes will be used to fund a tender for $330 million 9¾% senior secured notes due November 2015.
Revlon is a New York-based cosmetics and accessories company.
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