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Avon Closes Secured Notes Offering

Avon International Operations, Inc. completed the offering of 500k.

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By: Marie Redding

Senior Editor, Rodman Media

Avon Products, Inc. has announced today that Avon International Operations, Inc., Avon’s wholly-owned subsidiary completed the offering of $500,000,000 in aggregate principal amount of its 7.875% Senior Secured Notes due 2022.

Jim Scully, Executive Vice President, Chief Operating Officer & Chief Financial Officer of Avon, stated, “The completion of this financing is another important milestone in our efforts to increase our financial resiliency and provide us with the appropriate capital structure to execute our transformation plan. We are pleased with where we sit today from a net leverage perspective and remain confident in our transformation plan, which we believe positions Avon for long term profitable growth.”

The Notes were offered and sold only to qualified institutional buyers in the United States.

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