Sponsors
Billabong ▲ +0.015 | PPR ▲ +2.15 | American Apparel ▲ +0.072 | The Buckle ▲ +0.25 | Columbia ▼ -1.54 | Deckers Outdoor ▼ -0.25 | Dicks ▼ -0.65 | Foot Locker ▲ +0.41 | Genesco ▲ +0.33 | Iconix Brand Group ▲ +0.17 | Jarden Corp ▲ +0.11 | Nordstrom ▲ +0.14 | Luxottica ▲ +0.23 | Nike ▼ -0.71 | Pacific Sunwear ▲ +0.14 | Skullcandy ▼ -0.01 | Sport Chalet ▼ -0.03 | Urban Outfitters ▲ +0.14 | VF Corp ▼ -0.40 | Quiksilver ▼ -0.07 | Zumiez ▲ +0.01 | Macys ▼ -0.07 | Tillys ▲ +0.09 |
Ticker Sponsor
Readers Say
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
I require all our executives to read it
I require all our executives to read it

There is no better publication that I am aware of that is so accurate and on top of any news and developments in our industry. I personally recommend it to many people that want to know and understand more about our industry. For the most part, shop-eat-surf.com gets the stories first. As a matter of fact, I require all the executives in our company to read it.

- By Hezy Shaked, President & CEO, Tilly's
New Industry Insight

Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.


Tiffany Montgomery
Print This Article

Quiksilver gets new loan to pay down Rhone debt

Quiksilver gets new loan to
By Tiffany Montgomery
October 28, 2010 6:35 AM

Quiksilver has paid off its remaining, high-interest Rhone debt that totaled $24.5 million.

 

To make this happen, the company completed a new loan agreement with Bank of America for $20 million, and used cash on hand to pay down the remaining $4.5 million, according to a company SEC filing and Bruce Thomas, Quiksilver Vice President of Investor Relations.

 

The good news for Quiksilver is the new loan has a much lower interest rate, 5.3%, vs. the 22% rate it was paying on the Rhone debt when all costs were included.

 

Bruce said the new loan also demonstrates Quiksilver is now able to get market rates in financing. That wasn’t the case last year when the company’s finances were more precarious and the financing market conditions were more difficult.

 

Earlier this year, Quiksilver completed a debt-for-equity swap with Rhone.

 

 

 


More on: Quiksilver, Rhone

Articles You Might Have Missed