Sponsors
Billabong ▼ -0.010 | PPR ▼ -2.30 | American Apparel ▼ -0.015 | The Buckle ▼ -0.04 | Columbia ▼ -0.63 | Deckers Outdoor ▼ -0.38 | Dicks ▲ +0.20 | Foot Locker ▼ -0.67 | Genesco ▼ -0.03 | Iconix Brand Group ▲ +0.21 | Jarden Corp ▼ -0.34 | Nordstrom ▼ -0.12 | Luxottica ▲ +0.26 | Nike ▲ +0.31 | Pacific Sunwear ▼ -0.01 | Skullcandy ▲ +0.33 | Sport Chalet - 0 | Urban Outfitters ▼ -0.60 | VF Corp ▼ -0.13 | Quiksilver ▼ -0.06 | Zumiez ▲ +0.04 | Macys ▲ +0.39 | Tillys ▲ +0.22 |
Readers Say
I waited too long to sign up for Executive Edition
I waited too long to sign up for Executive Edition

I read Shop-Eat-Surf at every opportunity, and I waited too long to sign up for the Executive Edition. It’s timely, relevant and clearly “from the industry, for the industry.

- By Andy Laats, President, Nixon
The first thing I look at
The first thing I look at

I find Shop-Eat-Surf to be a very useful and informative site that I enjoy browsing daily. Shop-Eat-Surf is the first thing I look at every morning to keep up-to-date on the latest talk, events, and happenings in the industry. I must say I am a fan of Shop-Eat-Surf.

- By Bobby Abdel, Partner, Jack's Surfboards
Industry Insight

CFA, WELLS FARGO: Invitation to next "Crystal Ball" breakfast session, "Private Label vs Branded Manufacturing."

STOKES ME: SIMA Humanitarian Fund campaign kicks off this week with "Add-A-Buck" promotions in 76 core-store doors.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Billabong refinances and extends financing agreements

By Tiffany Montgomery
August 06, 2008 6:46 AM

I came across a Reuters story the other day that said Billabong was in the midst of raising money through the private placement market in the U.S.


The story quoted an unnamed market source.


I decided to contact Billabong corporate headquarters in Australia to see if the story was true. I'm glad I did.


Corporate Communications Manager John Mossop said Billabong, like most companies, considered a wide range of options when it came time to update its financing agreements.


In July, the company refinanced and extended its financing agreements and secured a total of $700 million (Australian dollars) in borrowing facilities, he said.


The company now has a A$600 million, multi-currency credit arrangement. Westpac Institutional Bank and Commonwealth Bank of Australia were the lead arrangers of the loan, and four domestic and international banks are also providing financing.


Separately, Billabong established an A$100 million, mulit-currency overdraft arrangement with HSBC for two years.


The two credit arrangements replace Billabong Group's existing credit facilities, Mossop said.


Articles You Might Have Missed