Revlon Obtains Court Approval For $1.4B Bankruptcy Loan: Reuters

by Shivani Kumaresan, Benzinga Staff Writer

August 1, 2022 3:47 PM | 1 min read | Make a Comment

Cosmetics company Revlon Inc REV has received a U.S. bankruptcy judge's permission to proceed with a $1.4 billion loan, Reuters reported.
The company had filed for bankruptcy under Chapter 11 after facing heavy debt.
The report noted some junior creditors had objected that Revlon's terms and conditions could make it impossible for them to recover their due from the company.
The approval will enable Revlon to borrow the cash it needs to continue its operations in bankruptcy.
Price Action: REV shares are trading higher by 86.3% at $8.33 on the last check Monday.
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