Revlon Announces Extension of Early Tender Deadline in RCPC’s Exchange Offer and Consent Solicitation

Revlon, Inc. (NYSE: REV) today announced the extension of the Early Tender Deadline and the Withdrawal Deadline in the previously-announced Exchange Offer and Consent Solicitation (the “Exchange Offer”) by Revlon Consumer Products Corporation, Revlon, Inc.’s directly wholly-owned operating subsidiary (“RCPC” or the “Company”). In the Exchange Offer, RCPC is offering holders of any and all of the outstanding $342,785,000 aggregate principal amount of RCPC’s 5.75% Senior Notes due February 15, 2021 (the “Notes”) the opportunity to exchange their Notes for either the Cash Consideration or the Mixed Consideration (each as described below) on the terms as set forth in the Offering Memorandum and Consent Solicitation Statement (the “Offering Memorandum”), dated September 29, 2020.

Each of the Early Tender Deadline and the Withdrawal Deadline for the Exchange Offer has been extended to 5:00 p.m., New York City time, on Friday, October 23, 2020 (the “New Early Tender Deadline”), from the previous deadline on October 22, 2020. The Exchange Offer will expire at 11:59 p.m., New York City time, on Tuesday, October 27, 2020 (the “Expiration Time”), subject to earlier termination, withdrawal or extension by the Company in its sole and absolute discretion.

For each $1,000 principal amount of Notes validly tendered, holders will receive either, at their option:

(i)		$275 in cash (plus the $50  Early Tender/Consent Fee, if such Notes are tendered at or before the New Early Tender Deadline), for an aggregate of $325 in cash (the “Cash Consideration”); or
(ii)		a combination of (1) $200 in cash (plus the $50 Early Tender/Consent Fee if such Notes are tendered at or before the New Early Tender Deadline), for an aggregate of $250 in cash, plus (2) $145 aggregate principal amount of ABL FILO Term Loans, plus (3) $217.50 aggregate principal amount of New BrandCo Second-Lien Term Loans (collectively, the “Mixed Consideration”), if the holder is an Eligible Holder. An “Eligible Holder” is (a)(1) a qualified institutional buyer as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), (2) an institutional accredited investor within the meaning of Rule 501(a)(1), (a)(2), (a)(3) or (a)(7) of the Securities Act or (3) a person that is not a “U.S. person” within the meaning of Regulation S under the Securities Act, (b) not a natural person and (c) not a “Disqualified Institution” (as defined in the 2016 U.S. ABL Facility (as defined below), or in the 2020 BrandCo Term Loan Facility (as defined below), and in each case, in certain related agreements and security documents).