Revlon Wins Approval for Debt Deal Facing Some Investor Pushback
- Company got majority of lenders to vote in support of the plan
- Certain lenders still oppose past transactions, current deal
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Revlon Inc. lined up enough support from lenders for a $1.8 billion overhaul of its debt, despite resistance from a group of its creditors, according to people with knowledge of the situation.
The makeup company got the majority votes from lenders needed to approve the debt refinancing as of the deadline Friday, the people said, asking not to be identified discussing a private matter. The votes, which were tallied including a new revolver, were enough to amend current loan documents and set the company’s deal on the path to completion.