LONDON, July 3, 2019 /PRNewswire/ -- Avon Products, Inc.
(NYSE: AVP) (the "Company" or "Avon") announced today that Avon
International Capital p.l.c., Avon's wholly-owned subsidiary (the
"Issuer"), completed an offering of $400,000,000 in aggregate principal amount of
6.50% senior secured notes due 2022 (the "notes").
Jan Zijderveld, CEO of
Avon, said: "The strong demand for
our debt offering allowed us to upsize the transaction to
$400 million and extend our debt
maturity profile. We believe this issuance enhances our financial
flexibility and will support our Company as we make strategic
investments and continue to execute our strategy to 'Open Up
Avon'."
The notes were offered and sold only to qualified institutional
buyers in the United States
pursuant to Rule 144A and outside the
United States pursuant to Regulation S under the U.S.
Securities Act of 1933, as amended (the "Securities Act").
The notes will not be registered under the Securities Act, and may
not be offered or sold in the United
States without registration under the Securities Act or
pursuant to an applicable exemption from such registration.
This announcement does not constitute an offer to sell, or a
solicitation of an offer to buy, any security and does not
constitute an offer, solicitation or sale of any security in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
Forward-Looking Information
In addition to historical information, this release contains
forward-looking statements that are not historical facts or
information may be forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Words such as
"estimate," "project," "forecast," "plan," "believe," "may,"
"expect," "anticipate," "intend," "planned," "potential," "can,"
"expectation," "could," "will," "would" and similar expressions, or
the negative of those expressions, may identify forward-looking
statements. Such forward-looking statements are based on
management's reasonable current assumptions, expectations, plans
and forecasts regarding the Company's and the Issuer's current or
future results and future business and economic conditions more
generally. Such forward-looking statements involve risks,
uncertainties and other factors, which may cause the actual
results, levels of activity, performance or achievement of the
Company or the Issuer to be materially different from any future
results expressed or implied by such forward-looking statements,
and there can be no assurance that actual results will not differ
materially from management's expectations. Therefore, you should
not rely on any of these forward-looking statements as predictors
of future events.
Additional information identifying such factors is contained in
Item 1A of Avon's Annual Report on
Form 10-K for the year ended December 31,
2018, Avon's Quarterly
Report on Form 10-Q for the quarter ended March 31, 2019, Avon's Current Reports on Form 8-K filed on
May 22, 2019 and May 24, 2019, and other reports and documents
Avon files with the Securities and
Exchange Commission. Avon
undertakes no obligation to update any forward-looking
statements.
All forward-looking statements contained in this release are
qualified in their entirety by this cautionary statement.
Forward-looking statements speak only as of the date they are or
were made, and Avon does not
intend to update or otherwise revise the forward-looking statements
to reflect events or circumstances after the date of this release
or to reflect the occurrence of unanticipated events, except as
required by law.
About Avon Products, Inc.
For 130 years Avon has stood
for women: providing innovative, quality beauty products which are
primarily sold to women, through women. Millions of independent
Representatives across the world sell iconic Avon brands such as
Avon Color and ANEW through their social networks, building their
own beauty businesses on a full- or part-time basis. Avon supports women's empowerment,
entrepreneurship and well-being and has donated over $1 billion to women's causes through Avon and the Avon Foundation.
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SOURCE Avon Products, Inc.