Home / Knowledge / News / Apparel/Garments / Billabong considers rival refinancing proposal
Billabong considers rival refinancing proposal
23
Aug '13
Billabong International Limited confirms that the Board is considering the proposal and as part of its consideration the Board met with the Centerbridge/Oaktree Consortium.

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.

Billabong International


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 13th Jul 2020

Cambodia's garment exports fall by 5.4% in 1st half 2020

Exports in Cambodia's garment sector dropped by 5.4 per cent to...

Pic: USDA/FAS

Textiles | On 13th Jul 2020

State reserve impacts China's cotton import demand: USDA

China's state reserve absorbs surplus domestic cotton to keep...

Pic: Shutterstock

Textiles | On 13th Jul 2020

Egypt signs agreement for new spinning factory in Mahalla

The Holding Company for Cotton, Spinning, Weaving and Clothes in...

Interviews View All

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Top executives, Textile industry

Top executives
Textile industry

Customised t-shirts is not a fad

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Erwin Devloo,

Erwin Devloo

Picanol develops, produces and markets high-tech weaving machines, based...

Aditya Goyal,

Aditya Goyal

Headquartered in Surat, Anubha Industries is a specialist for sustainable...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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


July 2020

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


Advanced Search