S&P rates Wella loans B

S&P said it assigned preliminary B ratings to Rainbow UK MidCo 2 Ltd., the parent of the Wella group, and to the proposed senior secured $1.8 billion term loan B due 2029 and $300 million revolving credit facility due 2028.

Net proceeds of the loans, together with about $120 million of cash available on balance sheet, will be used to fully repay the existing debt facility and to pay a one-off shareholder distribution.

The outlook is stable.

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