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Long-Term Debt and Redeemable Preferred Stock - Components of Long-Term Debt and Redeemable Preferred Stock (Detail) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2013
Dec. 31, 2012
Debt Instrument And Redeemable Preferred Stock [Line Items]    
Long-term debt, gross $ 1,227.6 $ 1,167.3
Less current portion 0 [1] (21.5) [1]
Long-term debt noncurrent 1,227.6 1,145.8
Redeemable preferred stock 48.5 [2] 48.4 [2]
Long-term debt and redeemable preferred stock 1,276.1 1,194.2
2011 Term Loan Facility [Member]
   
Debt Instrument And Redeemable Preferred Stock [Line Items]    
Term Loan Facility, net of discounts 669.2 [1] 780.9 [1]
2011 Revolving Credit Facility Due 2016 [Member]
   
Debt Instrument And Redeemable Preferred Stock [Line Items]    
Revolving credit facility 0 0
5 3/4% Senior Notes Due 2021 [Member]
   
Debt Instrument And Redeemable Preferred Stock [Line Items]    
Senior Secured Notes, net of discounts 500.0 [3] 0 [3]
9 3/4% Senior Secured Notes Due 2015 [Member]
   
Debt Instrument And Redeemable Preferred Stock [Line Items]    
Senior Secured Notes, net of discounts 0 [3] 328.0 [3]
Amended And Restated Senior Subordinated Term Loan Due Two Thousand And Fourteen [Member]
   
Debt Instrument And Redeemable Preferred Stock [Line Items]    
Senior Subordinated Term Loan $ 58.4 [4] $ 58.4 [4]
[1] On February 21, 2013, Products Corporation consummated an amendment (the "2013 Bank Term Loan Amendments") to its third amended and restated term loan agreement dated as of May 19, 2011 (as amended, the "2011 Term Loan Agreement") for its 6.5 year term loan facility due November 19, 2017 (the “2011 Term Loan Facility”), to among other things: (i) reduce the total aggregate principal amount outstanding under the 2011 Term Loan Facility from $788.0 million to $675.0 million; (ii) reduce the minimum Eurodollar Rate on Eurodollar Loans from 1.25% to 1.00%; and (iii) reduce the Applicable Margin on Eurodollar Loans from 3.50% to 3.00%. Refer to “Recent Debt Transactions – 2013 Bank Term Loan Amendments to the 2011 Term Loan Agreement” below for further discussion. Additionally, see Note 10, “Long-Term Debt and Redeemable Preferred Stock,” to the Consolidated Financial Statements in Revlon, Inc.’s 2012 Form 10-K for additional details regarding Products Corporation’s 2011 Term Loan Facility prior to the 2013 Bank Term Loan Amendments.
[2] The Preferred Stock is mandatorily redeemable on October 8, 2013 and is presented as a current liability on the Company’s Consolidated Balance Sheets as of March 31, 2013 and December 31, 2012. See Note 10, “Long-Term Debt and Redeemable Preferred Stock,” to the Consolidated Financial Statements in Revlon, Inc.’s 2012 Form 10-K for certain details regarding Revlon, Inc.’s Preferred Stock.
[3] On February 8, 2013, Products Corporation issued $500.0 million aggregate principal amount of 5¾% Senior Notes due February 15, 2021 (the “5¾% Senior Notes”) to investors at par. Products Corporation used $491.2 million of net proceeds (net of underwriters' fees) from the issuance of the 5¾% Senior Notes to repay or redeem all of the $330 million outstanding aggregate principal amount of its 9¾% Senior Secured Notes due November 2015 (the “9¾% Senior Secured Notes"), as well as to pay an aggregate of $27.5 million for the applicable redemption and tender offer premiums, accrued interest and related fees and expenses. Products Corporation used a portion of the remaining proceeds, together with existing cash, to pay approximately $113.0 million of principal on its 2011 Term Loan Facility in conjunction with the consummation of the 2013 Bank Term Loan Amendments. Products Corporation expects to use the remaining balance available from the issuance of the 5¾% Senior Notes for general corporate purposes, including, without limitation, debt reduction transactions, such as repaying to Revlon, Inc. at maturity the Contributed Loan (as defined below), which Revlon, Inc. expects to use to pay the liquidation preference of Revlon, Inc.'s Series A Preferred Stock, par value $0.01 per share (the "Preferred Stock") on October 8, 2013, subject to Revlon, Inc. having sufficient surplus in accordance with Delaware law. Refer to “Recent Debt Transactions – 2013 Senior Notes Refinancing” below for further discussion.
[4] For detail regarding Products Corporation’s Amended and Restated Senior Subordinated Term Loan (the “Amended and Restated Senior Subordinated Term Loan”), consisting of (i) the $58.4 million principal amount which remains owing from Products Corporation to various third parties (the “Non-Contributed Loan”), which matures on October 8, 2014 and (ii) the $48.6 million principal amount due from Products Corporation to Revlon, Inc. (the “Contributed Loan”), which matures on October 8, 2013, see Note 10, “Long-Term Debt and Redeemable Preferred Stock,” to the Consolidated Financial Statements in Revlon, Inc.’s 2012 Form 10-K.