Quiksilver upsizes 10-year notes to $400 million, talked at 7% area

By Paul A. Harris

St. Louis, July 13 - Quiksilver Inc. upsized its offering of 10-year senior notes (B1/BB-) to $400 million from $350 million and talked them at a yield in the 7% area on Wednesday, according to a syndicate source.

Pricing is expected to take place on Thursday.

JP Morgan has the books for the Rule 144A/Regulation S offering. Banc of America Securities and SG Corporate & Investment Banking are joint lead managers.

The notes come with five years of call protection.

Proceeds along with new bank debt will be used to help finance the acquisition of Skis Rossignol SA and to repay existing debt. The proceeds will be placed in an escrow account pending the successful tender of at least 80% of Rossignol's shares.

The company is headquartered in Huntington Beach, Calif.

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