GE Capital is Administrative Agent on $100 Million Credit Facility for
NORWALK, Conn. -- January 28, 2014
GE Capital announced today that it is serving as administrative agent on a
$100 million multi-currency revolving credit facility for Billabong
International, the Australia-based sports-apparel company. The new credit
facility, which closed in December, will be used to refinance existing debt
and provide working capital to support the company’s growth. GE Capital
Markets served as lead arranger on the facility.
Billabong is engaged in wholesaling and retailing of surf, skate and sports
apparel, accessories and hardware and the licensing of the company’s
trademarks to specified regions of the world. The company’s brands include
Billabong, Element, Von Zipper, Kustom, Palmers, Honolua, Xcel, Tigerlily,
Sector 9 and RVCA. Billabong is headquartered in Burleigh Heads, Australia.
"This facility is an important part of our wider refinancing strategy as we
undertake a turnaround of our global operations," said Peter Myers, chief
financial officer, Billabong. "We operate in multiple international markets
and GE Capital can support us in a range of them."
“We are very pleased to be able to put together this multi-country,
multi-currency facility for Billabong,” said Bob McCarrick, chief commercial
officer—lending at GE Capital, Corporate Finance. “We are focused on serving
the middle market, around the world, and feel we can bring a unique set of
capabilities to help companies like Billabong to continue to grow.”
About GE Capital
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit gecapital.com or
follow company news via Twitter (@GECapital). GE (NYSE:GE) works on things
that matter. The best people and the best technologies taking on the toughest
challenges. Finding solutions in energy, health and home, transportation and
finance. For more information, visit ge.com.
GE Capital, Americas
Ned Reynolds, 203-229-5717
GE Capital, Australia & New Zealand
Katie Lennon, +61 (0) 406 316 907
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