Quiksilver announced a double-plus good deal on the $150 million credit line they’ve been running, according to a story in Businessweek. The company got a new, lower interest rate and extended the credit line out for four years.
The new rate is 1.5 percentage points below its previous credit line arranged by Bank of America Corp.’s Merrill Lynch and General Electric Co.’s GE Capital. The credit line is now set to expire in August 2014.
That’s good news for the company that is currently carrying $700 million in debt.
[Link: BusinessWeek]
