Revlon avoids bankruptcy after last-minute deal
Holders of about $236m of the company’s outstanding bonds that mature in February have been tendered into an exchange offer
12 November 2020 - 17:36
Bengaluru — Revlon said on Thursday that enough bondholders had taken part in its debt restructuring programme for the cosmetics maker to stave off bankruptcy.
The company had warned earlier in November that it may be forced to file for chapter 11 bankruptcy protection if a certain amount of its bonds, worth $342.8m, were still outstanding by mid-November, as it would trigger the accelerated repayment of other debts...
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