revlon
Near century-old American cosmetics giant, Revlon Inc (NYSE:REV) caught a wild ride this week after shares jumped 560% as meme stock-buying retail investors ruined many a short seller’s positions, buying the shares after the company revealed a bankruptcy filing and related financing. REV’s share price has fallen 48% since the beginning of the year, fuelled by investor rotations out of unprofitable companies with the onset of rising interest rates. Q1 2022 hedge fund letters, conferences and more The stock has been discussed by redditors at Wall Street Bets over the last week, with one calling ...
ValueWalk
In a new special report, Xtract Research reviews key features of the Revlon documents that warranted more attention from lenders. Q4 2020 hedge fund letters, conferences and more The Key Features Of The Revlon DocumentsHighlights from the report include: Include a Standalone Sale Leaseback Covenant Just like in the much-maligned J. Crew transaction, after moving the IP assets to the Brandco Subsidiaries, Revlon licensed the IP back. Unlike J. Crew, the Revlon documents included a provision rarely seen in today’s market: a standalone Sale Leaseback covenant. Because sale leaseback transactions ...
ValueWalk
Mittleman Investment Management commentary for the year ended December 31, 2020, discussing the top three contributors to their performance: Village Roadshow, Revlon, and Greatview Aseptic Packaging. Q4 2020 hedge fund letters, conferences and more Mittleman Investment Management PerformanceMittleman Investment Management, LLC’s composite gained 31.0% net of fees in the fourth quarter of 2020, versus gains of 12.1% in the S&P 500 Total Return Index and 31.4% in the Russell 2000 Total Return Index. Longer-term results for our composite through 12/31/20 appear below. Composite performance ranked...
ValueWalk
Cosmetics company Revlon’s fate is in Carl Icahn’s hands as it potentially faces bankruptcy if it is unable to restructure its debt. Revlon is pressuring bondholders to tender claims for a third of their face value, according to a press release from the company. Icahn, who owns a significant portion of the makeup company’s debt and could derail the proposed bond exchange, has so far stayed away from the swap. According to reports in the Wall Street Journal, the veteran activist believes the deal doesn’t return enough to the bondholders.Q3 2020 hedge fund letters, conferences and moreTwo Week U...
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