GE Capital confirmed it is administering a $100 million multi-currency revolving credit facility for Billabong International that closed in December.
GE Capital said the new credit facility 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, which was expected under a recapitalization plan approved by the Australian action sports company’s directors last year.
Billabong’s brands include Billabong, Element, Von Zipper, Kustom, Palmers, Honolua, Xcel, Tigerlily, Sector 9 and RVCA. Billabong is headquartered in Burleigh Heads, Australia.