Long-Term Debt And Redeemable Preferred Stock

3 Months Ended

Mar. 31, 2012

Long-Term Debt And Redeemable Preferred Stock [Abstract]

Long-Term Debt And Redeemable Preferred Stock

5.     LONG-TERM DEBT AND REDEEMABLE PREFERRED STOCK

	March 31, 2012			December 31, 2011
2011 Term Loan Facility due 2017, net of discounts(a)	$	785.9		$	787.6
2011 Revolving Credit Facility due 2016(a)		—			—
9 3/4% Senior Secured Notes due 2015, net of discounts(b)		327.5			327.4
Senior Subordinated Term Loan due 2014(c)		58.4			58.4
		1,171.8			1,173.4
Less current portion		(8.0	)		(8.0	)
		1,163.8			1,165.4
Redeemable Preferred Stock (d)		48.5			48.4
	$	1,212.3		$	1,213.8

^(a)  During the second quarter of 2011, Products Corporation consummated the refinancing of (i) its term loan facility, which was scheduled to mature on March 11, 2015 and had $794.0 million aggregate principal amount outstanding at December 31, 2010 (the "2010 Term Loan Facility"), with a 6.5-year, $800.0 million term loan facility due November 19, 2017 (the "2011 Term Loan Facility') under a third amended and restated term loan agreement dated May 19, 2011 (the "2011 Term Loan Agreement") and (ii) its revolving credit facility, which was scheduled to mature on March 11, 2014 and had nil outstanding borrowings at December 31, 2010, with a 5-year, $140.0 million asset-based, multi-currency revolving credit facility due June 16, 2016 (the "2011 Revolving Credit Facility") under a third amended and restated revolving credit agreement dated June 16, 2011 (the "2011 Revolving Credit Agreement" and together with the 2011 Term Loan Agreement, the "2011 Credit Agreements"). See Note 9, "Long-Term Debt and Redeemable Preferred Stock," to the Consolidated Financial Statements in Revlon, Inc.'s 2011 Form 10-K for certain details regarding Products Corporation's 2011 Credit Agreements.

^(b)  See Note 9, "Long-Term Debt and Redeemable Preferred Stock," to the Consolidated Financial Statements in Revlon, Inc.'s 2011 Form 10-K for certain details regarding Products Corporation's 9 ³/4% Senior Secured Notes which mature on November 15, 2015 (the "9 ³/4% Senior Secured Notes").

^(c)  For detail regarding Products Corporation's Senior Subordinated Term Loan from MacAndrews & Forbes (the "Senior Subordinated Term Loan"), consisting of (i) the $58.4 million principal amount of the Senior Subordinated Term Loan which remains owing from Products Corporation to MacAndrews & Forbes (the "Non-Contributed Loan"), which matures on October 8, 2014 and (ii) the $48.6 million of the $107.0 million aggregate outstanding principal amount of the Senior Subordinated Term Loan that was contributed to Revlon, Inc. by MacAndrews & Forbes (the "Contributed Loan"), which is due from Products Corporation to Revlon, Inc. and matures on October 8, 2013, see Note 9, "Long-Term Debt and Redeemable Preferred Stock," to the Consolidated Financial Statements in Revlon, Inc.'s 2011 Form 10-K.

^(d)  See Note 9, "Long-Term Debt and Redeemable Preferred Stock," to the Consolidated Financial Statements in Revlon, Inc.'s 2011 Form 10-K for certain details regarding Revlon, Inc.'s redeemable Preferred Stock (as hereinafter defined).

Products Corporation was in compliance with all applicable covenants under the 2011 Term Loan Agreement and 2011 Revolving Credit Agreement as of March 31, 2012. At March 31, 2012, the aggregate principal amount outstanding under the 2011 Term Loan Facility was $794 million and availability under the $140.0 million 2011 Revolving Credit Facility, based upon the calculated borrowing base less $10.7 million of outstanding undrawn letters of credit and nil then drawn on the 2011 Revolving Credit Facility, was $122.4 million.