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Revlon Faces Debt Crunch After Bond Exchange Fails

by Bioreports
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Revlon Inc. has failed to complete a distressed-bond exchange that would have extended a debt maturity and given the troubled cosmetics company more time to get a handle on hundreds of millions in debt due in the coming months.

The New York-based company sought at least 95% participation in the exchange offer, which would have extended until 2024 the maturities on bonds scheduled to come due in February. But the deal generated little interest among bondholders owning the 5.75% notes, which total about $400 million. Only about…

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