Revlon Completes 2011 Revolving Credit Facility Refinancing

Revlon, Inc. REV today announced that its wholly-owned operating subsidiary, Revlon Consumer Products Corporation consummated the previously-disclosed refinancing of its existing revolving credit facility. Under the new $140 million revolving credit facility, the interest rate spread over the LIBOR base rate was reduced from a 3.00% flat rate under RCPC's prior revolving credit facility to a range of 2.00% to 2.50%, based on availability under the 2011 Revolving Credit Facility, with the initial interest rate expected to be 2.00%. Also, under the 2011 Revolving Credit Facility, the commitment fee on unused revolver availability was reduced from 0.75% to 0.375%. Further, the maturity was extended to June 2016 (it was previously scheduled to mature in March 2014).