Easton-Bell Sports plans to retire 2016 notes with asset sale proceeds

By Marisa Wong

Madison, Wis., March 5 - Easton-Bell Sports, Inc. said it plans to retire its existing 2016 senior secured notes using proceeds from an asset sale.

The company reached an agreement on Feb. 13 to sell the assets of its Easton Baseball/Softball business to Bauer Performance Sports for $330 million, according to an 8-K filing with the Securities and Exchange Commission.

In addition, the company is looking to sell its Easton Hockey business.

Proceeds from the asset sale, along with new financing, will also be used to retire the EB Sports Corp. HoldCo facility.

Easton-Bell is a Van Nuys, Calif.-based designer, developer and marketer of branded athletic equipment and accessories.

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