Oriflame secures support from bondholders for recapitalisation

THE WHAT? Oriflame has announced that it has support of more than 85 percent of its bondholders for the recapitalisation transaction announced earlier this month. The transaction is expected to close in the first half of 2025 subject to satisfaction of conditions precedent and approval from other creditors, including the RCF lenders.

THE DETAILS The transaction delivers a substantially de-levered and sustainable balance sheet with a debt reduction of c.€520 million and a meaningful maturity runway. A substantial injection of new capital of €50 million from a consortium of long-term investors and the af Jochnick family provides a stable platform to drive a return to strong and sustained growth

THE WHY? Alexander af Jochnick, Chairman, Oriflame, comments, “Our family have been involved in Oriflame since Oriflame’s founding in 1967… Our investment in partnership with a group of investors as well as the recapitalisation of the balance sheet provides Oriflame with a stable financial footing. This will allow for the management team to execute on the Company’s business plan to the benefit of all stakeholders of Oriflame. I am excited to work together with the investors and management to enable the success of our brand partners across the world.”

The post Oriflame secures support from bondholders for recapitalisation appeared first on Global Cosmetics News.