THE FACT THAT? Oriflame Investment Holding Plc has obtained the required consent from bondholders to amend the terms of its senior secured debt, taking a key step in its recapitalization process.
THE DETAILS The beauty company received valid, unrevoked consents from holders representing 98.40% of its US$550 million senior secured notes due 2026 and 96.21% of its €250 million floating rate senior secured notes due 2026, exceeding the 90% threshold required for approval.
The consents relate to proposed amendments to the contract governing the notes, originally issued in May 2021 and subsequently amended, as well as to the group’s inter-creditor agreement. With the required consents obtained on December 16, 2025, the consent request expired and the consents can no longer be revoked.
Settlement is expected within three business days, subject to compliance or waiver of customary conditions. Upon liquidation, the amended and restated indenture and intercreditor agreement will come into effect, formally implementing the revised terms.
THE WHY? The successful tender provides Oriflame with greater flexibility around its near-term debt maturities, strengthening its capital structure as it navigates current financial pressures and seeks to stabilize its balance sheet ahead of 2026 note maturities.
Fountain: Oriflame
