The new credit facility, which closed in December, will be used to refinance existing debt and provide working capital to support the company’s growth. GE Capital Markets served as lead arranger on the facility.
Billabong is engaged in wholesaling and retailing of surf, skate and sports apparel, accessories and hardware and the licensing of the company’s trademarks to specified regions of the world. The company’s brands include Billabong, Element, Von Zipper, Kustom, Palmers, Honolua, Xcel, Tigerlily, Sector 9 and RVCA. Billabong is headquartered in Burleigh Heads, Australia.
"This facility is an important part of our wider refinancing strategy as we undertake a turnaround of our global operations," said Peter Myers, chief financial officer, Billabong. "We operate in multiple international markets and GE Capital can support us in a range of them."
“We are very pleased to be able to put together this multi-country, multi-currency facility for Billabong,” said Bob McCarrick, chief commercial officer—lending at GE Capital, Corporate Finance. “We are focused on serving the middle market, around the world, and feel we can bring a unique set of capabilities to help companies like Billabong to continue to grow.”
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance.
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