DEBT (Tables)

12 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of debt

	June 30, 2019			June 30, 2018
Short-term debt	$	4.2		$	9.2
2018 Coty Credit Agreement
2018 Coty Revolving Credit Facility due April 2023	792.1			368.1
2018 Coty Term A Facility due April 2023	3,147.0			3,371.5
2018 Coty Term B Facility due April 2025	2,342.3			2,390.5
Senior Unsecured Notes
2026 Dollar Notes due April 2026	550.0			550.0
2023 Euro Notes due April 2023	625.0			640.9
2026 Euro Notes due April 2026	284.1			291.4
Other long-term debt and capital lease obligations	1.1			1.6
Total debt	7,745.8			7,623.2
Less: Short-term debt and current portion of long-term debt	(193.8		)	(218.9		)
Total Long-term debt	7,552.0			7,404.3
Less: Unamortized debt issuance costs	(71.3		)	(86.2		)
Less: Discount on Long-term debt	(10.8		)	(12.7		)
Total Long-term debt, net	$	7,469.9		$	7,305.4

Schedule of long term debt facilities

The Company’s long-term debt facilities consisted of the following as of June 30, 2019 and 2018:

Facility	Maturity Date	Borrowing Capacity (in millions)	Interest Rate Terms	Applicable Interest Rate Spread as of June 30, 2018	Debt Discount	Repayment Schedule
2018 Coty Revolving Credit Facility	April 2023	(a)	LIBOR(b) plus a margin ranging from 1.00% to 2.00% per annum or a base rate plus a margin ranging from 0.00% to 1.00% per annum, based on the Company’s total net leverage ratio (d) (e) (f)	1.75%	N/A(c)	Payable in full at maturity date
2018 Coty Term A Facility - USD Portion	April 2023	$1,000.0		1.75%	N/A(c)	Quarterly repayments beginning September 30, 2018 at 1.25% of original principal amount
2018 Coty Term A Facility - EUR Portion	April 2023	€2,035.0		1.75%	N/A(c)
2018 Coty Term B Facility - USD Portion	April 2025	$1,400.0	LIBOR(b) plus a margin of 2.25% per annum or a base rate plus a margin of 1.25% per annum (e)	2.25%	0.25%	Quarterly repayments beginning September 30, 2018 at 0.25% of original principal amount
2018 Coty Term B Facility - EUR Portion	April 2025	€850.0	LIBOR(b) plus a margin of 2.50% per annum (e)	2.50%	0.25%
2026 Dollar Notes	April 2026	$550.0	6.5% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2018	N/A(c)	N/A(c)	Payable in full at maturity date
2023 Euro Notes	April 2023	€550.0	4.0% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2018	N/A(c)	N/A(c)
2026 Euro Notes	April 2026	€250.0	4.75% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2018	N/A(c)	N/A(c)

^(a)  As of June 30, 2018, the 2018 Coty Revolving Credit Facility borrowing capacity was $3,250.0. As a result of the June 27, 2019 credit agreement amendment (as described below), the borrowing capacity was reduced to $2,750.0 as of June 30, 2019.

^(b)  As defined in the Interest section below.

^(c)  N/A - Not Applicable.

^(d)  As defined per the 2018 Coty Credit Agreement.

^(e)  The selection of the applicable one, two, three, six or twelve month interest rate for the period is at the discretion of the Company.

^(f)  The Company will pay to the Revolving Credit Facility lenders an unused commitment fee calculated at a rate ranging from 0.10% to 0.35% per annum, based on the Company’s total net leverage ratio^(d). As of June 30, 2019 and 2018, the applicable rate on the unused commitment fee was 0.35% and 0.30%, respectively.

Debt instrument redemption

At any time on or after April 15, 2021, April 15, 2020 and April 15, 2021, the Company may redeem some or all of the 2026 Dollar Notes, 2023 Euro Notes and 2026 Euro Notes, respectively, at the redemption prices (expressed in percentage of principal amount) set forth below, plus accrued and unpaid interest, if any, to, but excluding, the redemption dates, if redeemed during the twelve-month period beginning on April 15 of each of the years indicated below:

	Price
Year	2026 Dollar Notes	2023 Euro Notes	2026 Euro Notes
2020	N/A	102.0000%	N/A
2021	104.8750%	101.0000%	103.5625%
2022	103.2500%	100.0000%	102.3750%
2023	101.6250%	100.0000%	101.1875%
2024 and thereafter	100.0000%	N/A	100.0000%

Schedule of leverage-based pricing

With certain exceptions as described below, the 2018 Coty Credit Agreement, as amended, includes a financial covenant that requires us to maintain a Total Net Leverage Ratio (as defined below), equal to or less than the ratios shown below for each respective test period.

Quarterly Test Period Ending	Total Net Leverage Ratio(a)
June 30, 2019 through December 31, 2021	5.25 to 1.00
March 31, 2022	5.00 to 1.00
June 30, 2022	4.75 to 1.00
September 30, 2022	4.50 to 1.00
December 31, 2022	4.25 to 1.00
March 31, 2023 through June 30, 2023	4.00 to 1.00

^(a) Total Net Leverage Ratio means, as of any date of determination, the ratio of: (a) (i) Total Indebtedness minus (ii) unrestricted cash and Cash Equivalents of the Parent Borrower and its Restricted Subsidiaries as determined in accordance with GAAP to (b) Adjusted EBITDA for the most recently ended Test Period (each of the defined terms used within the definition of Total Net Leverage Ratio have the meanings ascribed to them within the 2018 Coty Credit Agreement, as amended).

In the case of the 2018 Coty Revolving Credit Facility and the 2018 Coty Term A Facility, the applicable margin means the lesser of a percentage per annum to be determined in accordance with the leverage-based pricing grid and the debt rating-based grid below:

Pricing Tier	Total Net Leverage Ratio:	LIBOR plus:	Alternative Base Rate Margin:
1.0	Greater than or equal to 4.75:1	2.000%	1.000%
2.0	Less than 4.75:1 but greater than or equal to 4.00:1	1.750%	0.750%
3.0	Less than 4.00:1 but greater than or equal to 2.75:1	1.500%	0.500%
4.0	Less than 2.75:1 but greater than or equal to 2.00:1	1.250%	0.250%
5.0	Less than 2.00:1 but greater than or equal to 1.50:1	1.125%	0.125%
6.0	Less than 1.50:1	1.000%	—%

Pricing Tier	Debt Ratings S&P/Moody’s:	LIBOR plus:	Alternative Base Rate Margin:
5.0	Less than BB+/Ba1	2.000%	1.000%
4.0	BB+/Ba1	1.750%	0.750%
3.0	BBB-/Baa3	1.500%	0.500%
2.0	BBB/Baa2	1.250%	0.250%
1.0	BBB+/Baa1 or higher	1.125%	0.125%

Fair value of debt

	June 30, 2019				June 30, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
2018 Coty Credit Agreement	$	6,281.4	$	6,058.9	$	6,130.1	$	6,070.8
Senior Unsecured Notes	1,459.1		1,439.6		1,482.3		1,449.9

Aggregate maturities of long-term debt

Aggregate maturities of all long-term debt, including current portion of long-term debt and excluding capital lease obligations as of June 30, 2019, are presented below:

Fiscal Year Ending June 30,
2020	$	189.3
2021	189.3
2022	189.3
2023	4,090.9
2024	23.6
Thereafter	3,058.1
Total	$	7,740.5