Revlon repurchased $7 million of 9½% senior notes in second quarter

By Jennifer Chiou

New York, July 30 - Revlon, Inc. used $6.3 million to buy back $7 million of its 9½% senior notes during the second quarter of 2009, according to a 10-Q filing with the Securities and Exchange Commission.

The company paid an additional $200,000 for accrued interest.

Revlon previously used $16.5 million to repurchase $23.9 million of the notes in the first quarter.

At June 30, the company had $359.1 million of the notes outstanding, according to the filing.

As a result of these repurchases, the company recorded a gain of $7 million during the first quarter and a gain of $500,000 during the second quarter.

Revlon said it may seek to acquire more of the notes in the open market.

The company makes cosmetics and other personal care products and is based in New York.

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