Performance Sports Group to pay down term loan with stock proceeds

By Angela McDaniels

Tacoma, Wash., June 19 – Performance Sports Group Ltd., formerly Bauer Performance Sports Ltd., plans to use the proceeds of a $110 million public offering of common stock to reduce leverage and to repay a portion of the term loan that was used to finance its recent acquisition of Easton Baseball/Softball, according to a company news release.

The stock offering has a $16.5 million greenshoe and is expected to settle Wednesday.

The company is based in Exeter, N.H., and makes sports equipment and apparel.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.