It appears that Quiksilver has been given a little more time to get things straightened out, according to a release posted on Welt.de.
Quiksilver, Inc. today announced that it has entered into an agreement with its European banking partners to consolidate its European debt obligations, including previously uncommitted lines of credit, into a new committed 4-year facility consisting of €170 million in term loans, a letter of credit facility with a capacity of €40 million and a €58 million revolving line of credit. . . As part of a separate agreement, Societe Generale Bank & Trust, a member of the European bank group, has extended the maturity of a €50 million term loan due to mature in July 2010 until July 2013.
We wondered why the stock was going up this morning. For Bob McKnights somewhat simplified explanations on Quik’s current financial landscape, click here for his interview with TransWorld Business’ Josh Hunter.
[Link: Welt.de]
