Author Topic: Whoa! Quiksilver And DC Cut Athlete Teams, Staff, & Brands  (Read 2267 times)

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Offline SeaCliff

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Re: Whoa! Quiksilver And DC Cut Athlete Teams, Staff, & Brands
« Reply #45 on: February 28, 2013, 10:19:14 AM »
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  • Here is International Financing Review's coverage of ZQK's 2009 debt refi deal:
     
    "Last week Quiksilver, the US sports lifestyle firm linked to surfboarding culture, signed a loan package that refinances its European business. BNP Paribas, SG and Le Credit Lyonnais led the facility, which was signed through borrowers NaPali SAS and Quiksilver Europe.
     
    The 268m four-year syndicated facility is spilt between a 170m term loan, a 40m letter of credit and a 58m revolver. As part of the new financing, an existing 55m loan has been extended and merged into the new facility. In addition SG has also agreed to extend the maturity of a 50m term loan to July 2013 from 2010.
     
    As well as the bank funding, Rhone, the private equity firm, has provided Quiksilver with a five-year term loan of approximately US$150m.
     
    At the same time as signing the European funding, the group has also secured a US$200m, three-year, asset-based facility for its US business through Bank of America and GE Capital.
     
    First-round bids are now in for the sale of easycash, the German credit card processing firm being sold by Warburg Pincus. Bankers said the sale has attracted interest from private equity and supporting banks."
     
    This story was written in 2009, and obligations are through 2013-14. When you look at those numbers versus the company's current financial statements, the downsizing becomes very easy to understand.
     
    The party is over.
     


    Hey - it was a helluva party. And we got the Quiksilver Pro NY out of the deal. Not bad.


    On to the next party!
    Webmaster, NYNJSurf.com - Follow NYNJSurf on Instagram - click here ---> @NYNJSurf - Site Comments, questions or requests? Email me! [email protected]

    Offline HydroGlide

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    Re: Whoa! Quiksilver And DC Cut Athlete Teams, Staff, & Brands
    « Reply #46 on: February 28, 2013, 11:55:19 AM »
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  • WTF? may have picked up Bobby

    Cease and Desist, HG!
    "LOL WTF?" is a registered trademark of my surf company, but there are openings on its surf team if you are interested ;D
    I'm getting old, don't know much about pro tennis, but I'm in - I just hope I don't read that the LOL WTF? brand needs more hipsta in the NYT's surfing section this summer.

    Offline HydroGlide

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    Re: Whoa! Quiksilver And DC Cut Athlete Teams, Staff, & Brands
    « Reply #47 on: February 28, 2013, 12:07:49 PM »
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  • the greater fool exit strategy must not be working for the lenders - if nobody is willing to refinance the debt with reasonable terms than the lenders have to actually work on management to make sure they get paid back maximum cents on the dollar. Pushing for sexy revenue growth is for equity gamblers praying for future share price movement - lenders and vendors need cash payments in real time - if management didn't volunteer these cost cuts - they pretty much would have been forced into them by the lead lenders.  Parties are always fun until they run out of free booze, drugs, and music - then  someone needs to start cleaning up the mess.   

    Offline nycwipeout

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    Re: Whoa! Quiksilver And DC Cut Athlete Teams, Staff, & Brands
    « Reply #48 on: February 28, 2013, 12:41:55 PM »
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  • the US roster seems to be the main focus as I read that the Euro & Aussie teams are intact, so maybe that's where they're getting the 130 list from
    New t-shirts available, check em out at
    http://www.gotham-surf-club.com



    Do not argue with an idiot. He will drag you down to his level and beat you with experience.

    Offline money4coffeeman

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    Re: Whoa! Quiksilver And DC Cut Athlete Teams, Staff, & Brands
    « Reply #49 on: February 28, 2013, 03:37:18 PM »
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  • It used to be about the music, man........

    Offline Crackie Onassis

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    Re: Whoa! Quiksilver And DC Cut Athlete Teams, Staff, & Brands
    « Reply #50 on: February 28, 2013, 04:01:17 PM »
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  • It used to be about the music, man........
    Now its about the creditors.
    So heavy you can't even pick it up.