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.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
