Revlon, Inc., along with its affiliates, filed a joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on December 22, 2022. As per the plan filed, administrative claims, professional compensation claims, priority tax claims, ABL DIP facility claims, term DIP facility claims, intercompany DIP facility claims, statutory fees, other priority claims, FILO ABL claims of $56.9 million shall be paid in full cash. Other secured claims shall either be paid in full in cash or delivered collateral securing such claim or reinstated.

Opco term loan claims of $2,918.1 million shall receive, in full and final satisfaction, such holder’s pro rata share of the opco term loan equity distribution, or if an acceptable alternative transaction occurs, such holder’s pro rata share of the shared and brandco equity distributable sale proceeds, along with brandco first lien guaranty claims, brandco second lien guaranty claims and brandco third lien guaranty claims. Brandco first lien guaranty claims of $1,093.7 million and brandco second lien guaranty claims of $946.8 million shall receive either a principal amount of take-back term loans equal to such claim less the value of the distributions received on account of such holder’s opco term loan claim or an amount of cash equal to the principal amount of take-back term loans that otherwise would have been distributable to such holder or if an acceptable alternative transaction occurs, such holder’s pro rata share of the brandco distributable sale proceeds. Brandco third lien guaranty claims of $3 million shall receive no recovery or distribution on account of such claims. If an acceptable alternative transaction occurs, such holder’s pro rata share of the brandco distributable sale proceeds. Unsecured notes claims of $441.4 million, if the plan is accepted, pro rata share of the unsecured notes settlement distribution, otherwise, no distribution and if applicable, and all unsecured notes claims shall be canceled, released, extinguished, and discharged.

If an acceptable alternative transaction occurs, such holder’s pro rata share of the brandco distributable sale proceeds after payment of all the above claims. Talc personal injury claims of $50-150 million, if the plan is accepted, pro rata share of talc personal injury settlement distribution distributable from the pi settlement fund, otherwise, no distribution and if applicable, shall be canceled, released, extinguished, and discharged. If an acceptable alternative transaction occurs, such holder’s pro rata share of the term loan distributable sale proceeds remaining after payment of all the above claims. Non-qualified pension claims of $50-60 million, if the plan is accepted, pro rata share of the pension settlement distribution, otherwise, no distribution and if applicable, shall be canceled, released, extinguished, and discharged. If an acceptable alternative transaction occurs, such holder’s pro rata share of the term loan distributable sale proceeds remaining after payment of all the above claims. Trade claims of $60-80 million, if the plan is accepted, pro rata share of trade settlement distribution, otherwise, no distribution and if applicable, shall be canceled, released, extinguished, and discharged.

If an acceptable alternative transaction occurs, such holder’s pro rata share of the term loan distributable sale proceeds remaining after payment of all the above claims. Other general unsecured claims of $42-62 million, if the plan is accepted, pro rata share of other GUC settlement distribution, otherwise, no distribution and if applicable, shall be canceled, released, extinguished, and discharged. If an acceptable alternative transaction occurs, such holder’s pro rata share of the term loan distributable sale proceeds remaining after payment of all the above claims. Subordinated claims shall receive no distribution and shall be canceled, released, extinguished, and discharged. Intercompany claims and interests shall either be reinstated or canceled and released.

Interests in holdings shall receive no recovery or distribution on account of such interests. On the effective date, all interests (other than intercompany interests) will be canceled, released, extinguished, and discharged, and will be of no further force or effect. The plan shall be funded from the exit facilities, the issuance and distribution of new common stock, the equity rights offering, the issuance and distribution of new warrants and cash on hand.