{"id":6294,"date":"2009-03-10T14:05:57","date_gmt":"2009-03-10T21:05:57","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=6294"},"modified":"2009-03-10T14:15:49","modified_gmt":"2009-03-10T21:15:49","slug":"quiksilver-gets-three-more-months","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=6294","title":{"rendered":"Quiksilver Gets Three More Months"},"content":{"rendered":"<p><a href=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2008\/11\/quik-logo.jpg\" onclick=\"window.open('http:\/\/www.boardistan.com\/wp-content\/uploads\/2008\/11\/quik-logo.jpg','popup','width=180,height=53,scrollbars=no,resizable=yes,toolbar=no,directories=no,location=no,menubar=no,status=yes,left=0,top=0');return false\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2009\/03\/quik-logo-tm.jpg\" height=\"58\" width=\"200\" border=\"1\" align=\"right\" hspace=\"4\" vspace=\"4\" alt=\"Quik-Logo\" \/><\/a>According to a Form 8-K filing today with the SEC, <strong><a href=\"http:\/\/www.quiksilver.com\/\" target=\"_blank\">Quiksilver&#8217;s<\/a><\/strong> big Euro lender paying has been pushed off until June 30, 2009.<\/p>\n<blockquote><p>On March 9, 2009, a French subsidiary of the Company, <strong>Pilot S.A.S.<\/strong> (\u201cPilot\u201d), entered into an amendment to its \u20ac 55,000,000 Line of Credit Agreement (the \u201cLC Agreement\u201d) with <strong>Societe Generale<\/strong>, <strong>BNP Paribas<\/strong> and <strong>Credit Lyonnais <\/strong>(collectively, the \u201cBanks\u201d) pursuant to which the Banks extended the LC Agreement from March 14, 2009 to June 30, 2009. This amendment will become effective March 13, 2009, subject to the satisfaction of certain closing conditions. The Company intends to conclude either a strategic or refinancing transaction within the period covered by this extension, in which case, the indebtedness subject to the LC Agreement would either be refinanced or repaid.<\/p><\/blockquote>\n<p>Interestingly, the lender has increased the interest on the loan to EURIBOR plus 2.8% from EURIBOR plus 1.6 and tacks on a .5% administration fee and &#8220;requires a mandatory prepayment of the LC Agreement upon the occurrence of certain events (e.g., sale of the Company\u2019s Quiksilver, <strong>Roxy<\/strong> or <strong>DC Shoes<\/strong> trademarks or businesses, termination of the Company\u2019s French tax consolidation, or the default under or cancellation of certain other debt arrangements).&#8221;<\/p>\n<p>What does this all mean? Well, it looks like the lenders want to get paid straight away if Quiksilver decided to sell something. Maybe tomorrow&#8217;s conference call will help sort things out.<\/p>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/www.hoovers.com\/free\/co\/secdoc.xhtml?ID=14526&amp;ipage=6466797-829-5102\" target=\"_blank\">Hoovers.com<\/a><\/strong><strong> via <\/strong><strong><a href=\"http:\/\/business.transworld.net\/2009\/03\/10\/market-watch-quiksilver-8k-on-debt-extension\/\" target=\"_blank\">Transworld Business<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a Form 8-K filing today with the SEC, Quiksilver&#8217;s big Euro lender paying has been pushed off until June 30, 2009. On March 9, 2009, a French subsidiary of the Company, Pilot S.A.S. (\u201cPilot\u201d), entered into an amendment to its \u20ac 55,000,000 Line of Credit Agreement (the \u201cLC Agreement\u201d) with Societe Generale, BNP [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[10,12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/6294"}],"collection":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6294"}],"version-history":[{"count":2,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/6294\/revisions"}],"predecessor-version":[{"id":6296,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/6294\/revisions\/6296"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6294"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}