We like Revlon bonds at 6 cents on the dollar.
Revlon has filed for Chapter 11 bankruptcy. Revlon listed assets of $2.3 billion and debts of $3.7 billion. A debtor in possession (DIP) of $575 million has been set up.
Revlon has great brand awareness and should exit bankruptcy as a leaner consumer beauty products company.
We suggest investors review the bankruptcy information as it unfolds to determine the value of the company's unsecured debt.
Revlon Consumer Products Corp:
$450 Million- Senior Unsecured Notes
6.25 % -Maturity- 8/01/2024- Price 6
Stephen P. Vlahos
Performance Plus Advisors, Inc.