Avon Products, Inc. has announced today that Avon International Operations, Inc., Avon's wholly-owned subsidiary, priced an offering of $500,000,000 in aggregate principal amount of its 7.875% Senior Secured Notes due 2022 (the "Notes"). The aggregate principal amount of the Notes offered was increased from $400,000,000. The offering is expected to close on August 15, 2016.

The Company intends to use the proceeds from the Offering, together with cash on hand, to complete tender offers for certain series of the Company's existing senior notes, which it launched concurrently with the Offering.

The Notes will be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act") and outside the United States to non-U.S. persons pursuant to Regulation S under 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.