Revlon launches $675 million term loan at Libor plus 250-275 bps

By Sara Rosenberg

New York, Feb. 12 - Revlon Consumer Products Corp. launched with its call on Wednesday a $675 million senior secured term loan B due Nov. 19, 2017 that is talked at Libor plus 250 basis points to 275 bps with a 0.75% Libor floor and a par offer price, according to a market source.

The term loan has 101 soft call protection for six months and a first-lien secured leverage ratio of 4.25 times, the source said.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Wells Fargo Securities LLC are the lead arrangers on the deal.

Proceeds will be used to refinance an existing term loan B due 2017 that is priced at Libor plus 300 bps with a 1% Libor floor.

Commitments are due at 5 p.m. ET on Feb. 20, the source added.

Closing is targeted for Feb. 25.

Revlon is a New York-based cosmetics and accessories company.

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