Revlon Inc. said Wednesday that additional bondholders are supporting its debt-restructuring offer but delayed a decision on whether there is enough participation to close the proposed deal and avoid bankruptcy.
The cosmetics company said investors holding nearly 70% of a $343 million bond had offered to participate in a crucial debt exchange. Revlon, backed by billionaire Ron Perelman’s MacAndrews & Forbes Inc., will assess by Friday if the bond swap has enough support to close, the company said.
Revlon…
This post first appeared on wsj.com
