Home / Knowledge / News / Apparel/Garments / Quiksilver secures improved financing in the Americas
Quiksilver secures improved financing in the Americas
07
Sep '10
Quiksilver, Inc. announced that it had amended and extended its existing asset-based line of credit in the Americas region under substantially better terms. The original credit line with joint lead arrangers Bank of America Merrill Lynch and GE Capital funded on July 31, 2009.

Although the company currently has no borrowings under the credit line, interest rates have been reduced by approximately 150 basis points and commitment fees have been reduced by approximately 50 basis points. The revised credit line has a capacity of $150 million and the term has also been extended to cover 4 years, maturing on August 28, 2014.

In announcing its fiscal third quarter earnings, the Company reported that its total debt at July 31, 2010, had been reduced to approximately $843 million and that it had approximately $167 million of availability under its credit lines in addition to approximately $156 million of unrestricted cash at the end of the third quarter.

Quiksilver has positioned itself for better financing opportunities by dramatically improving its capital structure over the past year. In particular, in early August the company further reduced its debt by $140 million in a debt-for-equity exchange with its investment partner Rhône, leaving Quiksilver with a current debt balance of approximately $700 million.

Quiksilver Inc


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Tim Savage from Pexels

Textiles | On 19th Jun 2018

Da Lat begins construction of $50mn wool yarn factory

Da Lat Worsted Spinning Limited Company has begun construction of a...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search