Revlon begins talks with lenders to avoid bankruptcy ahead of looming maturities of debt  

Revlon begins talks with lenders to avoid bankruptcy ahead of looming maturities of debt  

THE WHAT? Revlon has entered into talks with lenders ahead of the maturity of debt, in a bid to avoid bankruptcy, according to a report by The Wall Street Journal. 

THE DETAILS According to people familiar with the matter, the cosmetics maker is in discussions with a group of lenders that include Angelo Gordon, Glendon Capital Management LP and King Street Capital Management. 

The restructuring discussions are said to focus on pushing out the due date on the estimated US$1.7 billion debt, which matures as early as 2024. 

THE WHY? Revlon has fallen short due to the increased popularity of social media brands, and narrowly avoided bankruptcy in 2020 as the pandemic took hold. 

The company’s next maturity is September 2023, with the maturities on the rest of the company’s US$3.3 billion in debt due in 2024 and 2025.

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