Structure of Revlon’s BrandCo Loan May Advantage BrandCo 2L Recoveries
on RemainCo Collateral at the Expense of 2016 Term Lenders

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Numerous refinancing transactions in recent years, including Revlon’s success in addressing its 2021 unsecured note maturity last year with an out-of-court solution, leaves the company with an incredibly complex capital structure consisting of foreign term loans, a three-tiered ABL facility, a three-tiered “BrandCo” facility, a partially paid-down regular-way term loan and one unsecured note issuance. Click through for our Americas Core Credit experts analysis of the Revlon refinancing situation.

Contact: Matt Danese
mdanese@reorg.com