Sloane & Co. is handling Revlon’s financial restructuring, a bond exchange that the Wall Street Journal says could help it avoid Chapter 11.
The cosmetics company, which has been hard hit by the COVID-19 pandemic, faces a Nov. 13 deadline to complete its bond exchange. If not enough bondholders participate in the program, Revlon may declare bankruptcy.
Debra Perelman, Revlon CEO, called the debt swap deal ”an important step towards strengthening our capital structure and better positions us to focus on our future growth.”
While Revlon is challenged by the pandemic, Perelman said the company “has the right strategy in place and will continue to execute against it.”
Sloane & Co.’s Dan Zacchei and Joe Germani represent Revlon.
Stagwell Group’s SKDKnickerbocker owns Sloane & Co.
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