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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
In November 2020, the Company’s subsidiary, Avon International Operations Inc. entered into a Promissory Note with Natura &Co International S.à r.l, a subsidiary of Natura &Co Holding S.A. and an affiliate of the Company in the amount of $960. The loan agreement will bear interest at a rate per annum of 3.13% and will mature on November 2, 2021 (“the Natura &Co Loan”).
In November 2020, in connection with the Natura & Co Loan, we redeemed the remaining principal amount of our 2016 Notes due August 15, 2022 and the remaining principal amount of our 2019 Notes due August 15, 2022. With respect to the 2016 Notes, the aggregate redemption amount paid was equal to the remaining principal amount of $500, plus a premium of $9.8 and accrued interest of $8.4. With respect to the 2019 Notes, the aggregate redemption amount paid was equal to the remaining principal amount of $400, plus a premium of $7.9 and accrued interest of $5.6.
In connection with the redemption, we expect to incur a loss on extinguishment of debt of $25.6 before tax in the fourth quarter of 2020 consisting of the $17.7 premiums, and the write-off of $7.9 of debt issuance costs related to the initial issuances of the notes that were redeemed.