DEBT (Tables)

12 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of debt

	June 30, 2020		June 30, 2019
Short-term debt	$	—	$	4.2
2018 Coty Credit Agreement
2018 Coty Revolving Credit Facility due April 2023	1,438.8		792.1
2018 Coty Term A Facility due April 2023	2,959.0		3,147.0
2018 Coty Term B Facility due April 2025	2,308.5		2,342.3
Senior Unsecured Notes
2026 Dollar Notes due April 2026	550.0		550.0
2023 Euro Notes due April 2023	618.3		625.0
2026 Euro Notes due April 2026	281.1		284.1
Other long-term debt and capital lease obligations	0.6		1.1
Total debt	8,156.3		7,745.8
Less: Short-term debt and current portion of long-term debt	(188.3)		(193.8)
Total Long-term debt	7,968.0		7,552.0
Less: Unamortized debt issuance costs	(66.9)		(71.3)
Less: Discount on Long-term debt	(9.0)		(10.8)
Total Long-term debt, net	$	7,892.1	$	7,469.9

Schedule of long term debt facilities

The Company’s long-term debt facilities consisted of the following as of June 30, 2020 and 2019:

Facility	Maturity Date	Borrowing Capacity (in millions)	Interest Rate Terms	Applicable Interest Rate Spread as of June 30, 2020	Debt Discount	Repayment Schedule
2018 Coty Revolving Credit Facility	April 2023	$2,750.0	LIBOR(a) 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 (c) (d) (e)	1.75%	N/A(b)	Payable in full at maturity date
2018 Coty Term A Facility - USD Portion	April 2023	$1,000.0		1.75%	N/A(b)	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(b)
2018 Coty Term B Facility - USD Portion	April 2025	$1,400.0	LIBOR(a) plus a margin of 2.25% per annum or a base rate plus a margin of 1.25% per annum (d)	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(a) plus a margin of 2.50% per annum (d)	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(b)	N/A(b)	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(b)	N/A(b)
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(b)	N/A(b)

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

^(b)N/A - Not Applicable.

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

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

^(e)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, 2020 and 2019, the applicable rate on the unused commitment fee was 0.30% 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
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

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%

Quarterly Test Period Ending	Total Net Leverage Ratio (as amended April 29, 2020) (a)
June 30, 2020 through March 31, 2021	N/A (not tested)
June 30, 2021 through December 31, 2021	5.25 to 1.00
3/31/2022	5.00 to 1.00
6/30/2022	4.75 to 1.00
9/30/2022	4.50 to 1.00
12/31/2022	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 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, including Adjusted EBITDA, used within the definition of Total Net Leverage Ratio have the meanings ascribed to them within the 2018 Coty Credit Agreement, as amended). Adjusted EBITDA, as defined in the 2018 Coty Credit Agreement, as amended, includes certain add backs related to cost savings, operating expense reductions and future unrealized synergies subject to certain limits and conditions as specified in the 2018 Coty Credit Agreement, as amended.

Fair value of debt

	June 30, 2020				June 30, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
2018 Coty Credit Agreement	$	6,706.3	$	5,962.3	$	6,281.4	$	6,058.9
Senior Unsecured Notes	1,449.4		1,270.3		1,459.1		1,439.6

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, 2020, are presented below:

Fiscal Year Ending June 30,
2021	$	187.9
2022	187.9
2023	4,711.0
2024	23.6
2025	2,214.2
Thereafter	831.1
Total	$	8,155.7