Revlon Obtains Court Approval For $1.4B Bankruptcy Loan: Reuters
Benzinga
Published Aug 01, 2022 20:47
Updated Aug 01, 2022 21:41
Revlon Obtains Court Approval For $1.4B Bankruptcy Loan: Reuters
- Cosmetics company Revlon Inc (NYSE: 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.
- Photo Via Flickr
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