Quiksilver talks €200 million seven-year notes with 8¾%-9% yield

By Paul A. Harris

St. Louis, Dec. 2 - Boardriders SA, a wholly owned European subsidiary of Quiksilver, Inc., talked its €200 million offering of seven-year senior notes (Ba3/B) with an 8¾% to 9% yield, an informed source said on Thursday.

The deal, which is being transacted on the syndicate desk in London, is expected to price on Friday.

Bank of America Merrill Lynch and UBS Investment Bank are the joint bookrunners for the deal, which is in the market in the Rule 144A and Regulation S formats. Bank of America Merrill Lynch will bill and deliver.

The Huntington Beach, Calif.-based lifestyle apparel company plans to use the proceeds to refinance its existing European term loans.

As a result of the refinancing, Quicksilver expects to recognize non-cash, non-operating charges during the fiscal quarter ending Jan. 31, 2011 of about $13 million.

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