Pursuits
Billabong Sees Revival With Oaktree-Centerbridge Debt Plan
This article is for subscribers only.
Billabong International Ltd., Australia’s largest surfwear company, said it’s better placed to rebuild its business after accepting a refinancing plan from Oaktree Capital Management LP and Centerbridge Partners LP.
The long-term financing terms offered by the U.S. funds are better than those proposed by Altamont Capital Partners, Chairman Ian Pollard said in an interview today. Neil Fiske, former chief executive officer of outdoor-wear company Eddie Bauer Holdings Inc., will be appointed as Billabong’s CEO and start work with a meeting in California Sept. 21, he said.