Avon Completes Refinancing

Posted on March 14, 2013 @ 08:36 am

Avon Products has announced that the company has completed refinancing activities. This includes a public offering of $1.5 billion in notes. The company also entered into a $1 billion four-year unsecured revolving credit facility agreement, which replaces the previous agreement.

"Through this refinancing, we have achieved increased financial flexibility, which is critical to our ability to successfully execute Avon's turnaround," said Kimberly Ross, executive vice president & CFO, Avon Products. "Our refinancing activities have improved our balance sheet, and we are pleased with the outcome."