Register, or Login to view the article
Revlon Consumer Products Corporation has launched a desperate debt exchange offer and even warned bondholders about the substantial risk of a bankruptcy restructuring if they don’t take part in the proposed debt exchange, according to a Form 8-K and various reports. The Company revealed its exchange offer to exchange any and all of the outstanding $342,785,000 aggregate principal amount of its 5.75% Senior Notes due 2021. The Company has retained Jefferies LLC to act as the dealer manager for the Exchange Offer. Global Bondholder Services Corporation is acting as the Information Agent and Exchange Agent for the Exchange Offer. The Company has been trying for months to swap out the bonds coming due in February at a discount to their face value. The Company said it would continue operating if it had to file for Chapter 11 bankruptcy to restructure its balance sheet.
Read more Bankruptcy News