Quiksilver gets €50 million term loan to refinance bonds due in 2010

By Sara Rosenberg

New York, Sept. 30 - Quiksilver Inc. closed on a €50 million term loan to refinance €50 million of bonds upon their maturity in July 2010, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Société Générale is the lender under the loan that was completed on Sept. 29.

Pricing on the loan is Euribor plus 480 basis points.

Amortization on the loan is €8.9 million due on July 31, 2011, €6 million due on Jan. 31, 2012, €6.6 million due on July 31, 2012, €6.4 million due on Jan. 31, 2013 and €22.1 million due on July 31, 2013.

In addition, on Sept. 29, the company repaid its €55 million line of credit using proceeds from the French credit facilities that were completed on July 31.

Quiksilver is a Huntington Beach, Calif., apparel and accessory company.

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