Quiksilver gets $20 million secured term loan led by Bank of America

By Sara Rosenberg

New York, Oct. 27 - Quiksilver Inc. closed on Wednesday on a $20 million senior secured term loan due Aug. 27, 2014, according to an 8-K filed with the Securities and Exchange Commission.

Bank of America acted as the lead arranger, bookrunner and administrative agent on the deal.

Pricing on the term loan is Libor plus 500 basis points.

Proceeds, along with cash on hand, were used to repay in full a $24.5 million term loan.

Quiksilver is a Huntington Beach, Calif.-based outdoor sports lifestyle company.

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