Revlon Intermediate Holdings III (“Revlon”) and some of its subsidiaries have entered into a five-year senior secured asset-based credit agreement (the “Credit Agreement”) with Mitsubishi UFJ Financial Group (“MUFG”), acting as the administrative agent, along with the participating lenders. The Credit Agreement establishes a revolving credit facility totaling $350 million, replacing Revlon’s existing revolving credit agreement with MidCap Financial Trust and other lenders, which was terminated on September 30, 2024.
The funds from the Credit Agreement will be utilized for debt refinancing, working capital, and general corporate purposes.
Ted McCormick, Revlon’s Chief Financial Officer, expressed satisfaction with the new agreement, stating, “We are pleased to have access to additional capital to support our immediate and long-term strategic priorities as well as further bolster our financial position. It is a testament to the strength of our business and its long-term trajectory that we are able to enter into this Credit Agreement with MUFG.”
MUFG serves as the administrative agent, with Sumitomo Mitsui Banking Corp acting as joint bookrunner and lead arranger. Co-documentation agents include CIBC Bank USA, Goldman Sachs Bank USA, and HSBC Bank USA, N.A. Siemens Financial Services, Inc. is also a participating lender. Revlon’s lead counsel is Paul, Weiss, Rifkind, Wharton & Garrison LLP, while Otterbourg P.C. serves as lead counsel for the lenders.
About Revlon Group Holdings LLC
Revlon Group Holdings LLC (“Revlon”) is renowned as a color authority and beauty trendsetter in color cosmetics and hair care. Since its introduction of the first opaque nail enamel in 1932, Revlon has been committed to providing consumers with high-quality product innovation and sophisticated glamour. In 2016, Revlon acquired the iconic Elizabeth Arden brand, expanding its portfolio of designer and celebrity fragrances. Today, Revlon’s diverse range of brands is available in approximately 150 countries across various retail channels, including prestige, salon, mass, and online. The company is recognized as a leading global beauty entity, offering a range of iconic brands in color cosmetics, skincare, hair color, hair care, and fragrances, including Revlon, Revlon Professional, Elizabeth Arden, Almay, and others.
About MUFG and MUFG Americas
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups, headquartered in Tokyo with a history spanning over 360 years. With approximately 2,100 locations in more than 50 countries and nearly 160,000 employees, MUFG provides a wide array of services, including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to be “the world’s most trusted financial group” by closely collaborating among its operating companies and responding flexibly to customer financial needs.
MUFG’s Americas operations, which include offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and its subsidiaries, focusing on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is recognized as one of the largest foreign banking organizations in the Americas. For more information about its services, career opportunities, and locations, visit www.mufgamericas.com.
