Quiksilver, Inc Secures Improved Financing in the Americas

Quiksilver, Inc. (NYSE: ZQK) today announced that it had amended and extended its existing asset-based line of credit in the Americas region under substantially better terms. The original credit line with joint lead arrangers Bank of America Merrill Lynch and GE Capital funded on July 31, 2009. Although the company currently has no borrowings under the credit line, interest rates have been reduced by approximately 150 basis points and commitment fees have been reduced by approximately 50 basis points. The revised credit line has a capacity of $150 million and the term has also been extended to cover 4 years, maturing on August 28, 2014.