SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 27, 1998
FRENCH FRAGRANCES, INC.
(Exact name of registrant as specified in its charter)
Florida 1-6370 59-0914138
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
14100 N.W. 60th Avenue
Miami Lakes, Florida 33014
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (305) 818-8000
_____________________________________________________________________________
(Former name or former address, if changed since last report)
Item 5. Other Events
On April 27, 1998, French Fragrances, Inc. (the "Company"), consummated
the private placement under Rule 144A pursuant to the Securities Act of 1933,
as amended, of $40 million principal amount of 10-3/8% Senior Notes due 2007
(the "Notes"). The Notes were sold at 106.5% of their principal amount and
have substantially similar terms to the Company's existing 10-3/8% Senior
Notes due 2007 which the Company issued in May 1997. The net proceeds of
approximately $41.4 million from the sale of the Notes were used to repay
outstanding borrowings under the Company's revolving bank credit facility and
$5 million of other indebtedness to its bank lender, all of which were used
for the March 1998 acquisition of certain assets of J.P. Fragrances, Inc., as
well as for working capital purposes.
The Notes have not be registered under the Act and may not be offered or
sold in the United States absent registration or an applicable exemption from
registration requirements. The Notes are expected to be exchanged for new
notes containing identical terms which will be registered under the Act. The
exchange offer will be made only by means of a prospectus.
Item 7. Financial Statements and Exhibits.
Exhibit
Number Description
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4.1 Indenture, dated as of April 27, 1998, between the Company and
Marine Midland Bank, as trustee.
4.2 Registration Rights Agreement, dated as of April 27, 1998, between
the Company and Donaldson, Lufkin & Jenrette Securities
Corporation.
99.1 Press Release dated April 27, 1998 relating to the consummation of
the private placement of the Notes.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FRENCH FRAGRANCES, INC.
/s/ William J. Mueller
Date: May 1, 1998 William J. Mueller
Vice President - Operations and
Chief Financial Officer