Revlon
This article was originally published in The Rose Sheet
Executive Summary
Company announces receipt of proposed term loan add-on of $25 mil., bringing the add-on to its existing $700 mil. term loan facility to $100 mil. Revlon reported it was seeking an amendment to its 2004 bank credit agreement during a July 12 preliminary Q2 earnings call (1"The Rose Sheet" July 17, 2006, p. 3). Proposed credit agreement amendment for $25 mil. add-on "is expected to be consummated in late July 2006, subject to market and other customary conditions, including receipt of consents from the appropriate lenders," firm notes. Revlon expects to record a second quarter operating loss of about $55 mil. and a net loss of approximately $95 mil...