Revlon Inc provided an update to its recent July 12, 2006 announcement that its wholly-owned operating subsidiary, Revlon Consumer Products Corporation ("RCPC"), is seeking an amendment to its 2004 bank credit agreement to, among other things, add $75 million to the credit agreement's term loan facility.
Revlon announced that due to the positive support from the lender group, the proposed term loan add-on to RCPC's existing $700 million term loan facility would be increased by an additional $25 million to a total add-on of $100 million.
The proposed credit agreement amendment described in this press release is expected to be consummated in late July 2006, subject to market and other customary conditions, including receipt of consents from the appropriate lenders. There can be no assurances that this transaction will be consummated.
Revlon is a worldwide cosmetics, skin care, fragrance, and personal care products company. The Company's vision is to deliver the promise of beauty through creating and developing the most consumer preferred brands. Corporate and investor relations information can be accessed at website. The Company's brands include Revlon, Almay, Vital Radiance, Ultima, Charlie, Flex, and Mitchum.
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