The Board will consider any proposal in accordance with its obligations and responsibilities to shareholders, and consistent with Billabong's previously stated intentions to finalise the long term financing package as soon as practical and to focus on rebuilding the business. The Board is considering the Centerbridge/Oaktree Consortium proposal in this manner.
On 16 July 2013, Billabong announced that it had entered into commitment letters with entities advised by Altamont and entities sub-advised by GSO Capital Partners (the credit arm of the Blackstone Group, and together with Altamont, the “Altamont Consortium”) and GE Capital to provide a long term financing package for Billabong.
It was also announced that Billabong had entered into binding documentation with the Altamont Consortium in relation to a US$294m (A$325m) bridge loan facility (“Bridge Facility”) which matures on 31 December 2013.
On 21 August 2013, the Company announced that it had entered into a revised commitment letter and certain other ancillary transaction documents with the Altamont Consortium.
Textiles | On 27th Apr 2017
The textiles department of the government of Maharashtra is working...
Apparel/Garments | On 27th Apr 2017
The European Commission (EC) has presented a set of focused actions...
Shri Dinesh Mills Limited
Broad range of fabrics will sell well this financial year
Shades of India
Women value something that is unique and has a flavour of India
Setting up a brand for online selling is easy, but running the brand is not
The Indian market has huge potential in technical textiles, and by far,...
Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
Label Ritu Kumar
‘Classics will return’ "There are a lot of people wearing western clothes ...
Yash P. Kotak
Bombay Hemp Company
One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...