Revlon Obtains Court Approval For $1.4B Bankruptcy Loan: Reuters

  • Cosmetics company Revlon Inc REV has received a U.S. bankruptcy judge's permission to proceed with a $1.4 billion loan, Reuters reported.
  • The company had filed for bankruptcy under Chapter 11 after facing heavy debt.
  • The report noted some junior creditors had objected that Revlon's terms and conditions could make it impossible for them to recover their due from the company.
  • The approval will enable Revlon to borrow the cash it needs to continue its operations in bankruptcy.
  • Price Action: REV shares are trading higher by 86.3% at $8.33 on the last check Monday.
  • Photo Via Flickr
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