KSV Advisory Canada’s Leading Boutique Advisory, Restructuring and Valuations Firm.

Revlon, Inc. and 50 related parties, including two Canadian entities (collectively, “Revlon”), operate as a global leader in the beauty industry, with a diverse portfolio of brands, including the iconic Revlon and Elizabeth Arden brands, spanning multiple beauty segments. Revlon’s portfolio consists of over 20 key brands associated with thousands of products sold in approximately 150 countries worldwide. Revlon is known for its extensive array of beauty offerings, including colour cosmetics, fragrances, hair colour, hair care, skin care, beauty tools, men’s grooming products, deodorants and other beauty care products, which it develops, manufactures, sells and markets across the globe through a variety of distribution channels. Revlon’s annual revenue is approximately $2 billion. The book value of its liabilities on a consolidated basis is approximately $4 billion. 

As of June 15, 2022, Revlon had approximately 2,823 employees, including 102 employed by the two Canadian Revlon debtors. 

KSV is the court-appointed Information Officer under Part IV of the Companies’ Creditors Arrangement Act in Revlon’s cross-border proceedings, with the main proceedings filed under Chapter 11 in the US.  

The objective of the restructuring proceedings is to implement a recapitalization of Revlon’s balance sheet, which will be accomplished, in part, through cross-border debtor-in-possession (“DIP”) facilities which were negotiated with certain of Revlon’s prepetition lenders prior to the filing. The DIP facilities are comprised of: (a) a senior secured post-petition asset-based revolving credit facility in the aggregate principal amount of US$400 million (the “ABL DIP Facility”); and (b) a senior secured priming post-petition term loan credit facility in the aggregate principal amount of US$575 million, with an incremental uncommitted facility in the amount of US$450 million (the “Term DIP Facility”).  The ABL DIP Facility and the Term DIP Facility are both subject to approval by the US Court and recognition of the Final DIP Order by the Canadian Court.  

Over the course of the proceedings, the Canadian Court will be relying on analyses, reports and recommendations from KSV, as Information Officer, before granting orders and/or recognizing orders issued by the US Court in the Chapter 11 proceedings. Revlon’s US and Canadian businesses continue to operate.