March 12, 2010 (FinancialWire) — Revlon, Inc. (NYSE: REV) said that its Revlon Consumer Products Corp. unit has consummated a previously-disclosed refinancing of its existing bank credit facilities.

According to Revlon, the refinancing extends the maturity of RCPC’s existing credit facilities, which were scheduled to mature in January 2012.

With a new five-year term loan facility, the maturity of RCPC’s existing term loan facility is extended from January 15, 2012 to March 11, 2015. Also, with a new asset-based, multi-currency revolving credit facility, the maturity of RCPC’s existing 2006 revolving credit facility is extended from January 15, 2012 to March 11, 2014.

As part of this refinancing, RCPC’s existing term loan facility, which had $815 million aggregate principal amount outstanding at December 31, 2009, was refinanced with a five-year, $800 million term loan facility under an amended and restated term loan agreement dated as of March 11.

Revlon said the refinancing also included refinancing RCPC’s 2006 revolving credit facility, which had nil outstanding borrowings at December 31, 2009, with a 4-year, $140 million asset-based, multi-currency 2010 Revolving Credit Facility under an amended and restated revolving credit agreement dated as of March 11.

RCPC used the $786 million of proceeds from the 2010 Term Loan Facility, which was drawn in full on the March 11, 2010 closing date and issued to lenders at 98.25%, plus around $31 million of available cash and around $20 million drawn on the 2010 Revolving Credit Facility to refinance in full the around $815 million of outstanding indebtedness under its existing term loan facility, to pay around $7 million of accrued interest and to pay around $15 million of fees and expenses incurred in connection with consummating the 2010 Refinancing.

New York-based Revlon is a cosmetics, hair color, beauty tools, fragrances, skincare, anti-perspirant deodorants and beauty care Products company.

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