On July 31, 2009, Quiksilver Inc. and certain of its Canadian and US affiliates closed two financing transactions. In the first transaction, Bank of America, N.A. and General Electric Capital Corporation, as joint lead arrangers, funded a new three-year, $200 million asset-based credit facility for Quiksilver's Americas business. In the second transaction, Rhône Capital LLC, an international private equity firm, funded a five-year senior secured term loan of approximately $150 million.
The new financing enables Quiksilver to refocus its attention on its industry-leading boardsport and outdoor lifestyle brands and on improving the operating profitability of its business worldwide. Quiksilver produces and distributes a diversified mix of branded apparel, footwear, accessories and related products.
In Canada, Quiksilver was represented by Fraser Milner Casgrain LLP with a team led by Jean-Sébastien Dugas that included Jane Bogaty, Sofia Ruggiero, Le Nguyen, Sapan Deol, Michael Axford and Jennifer Dezell (financial services); Wendy Riel (intellectual property) and Mark Dunsmuir and Mary Picard (pensions and benefits). McInnis Cooper acted as special counsel to Quiksilver in Nova Scotia, with a team that included David Feindel and Deborah Patterson (corporate and business). Thompson Dorfman Sweatman LLP acted as special counsel to Quiksilver in Manitoba, with a team that included Glen Agar and Peter Toni (corporate and commercial). In the United States, Quiksilver was represented by Skadden, Arps, Slate, Meagher & Flom LLP with a team comprised of K. Kristine Dunn, Dan Larsen and SueAnn Patten.
Bank of America N.A. was represented in Canada by Ogilvy Renault LLP with a team that included Kevin J. Morley, C. Nicole Sigouin, David Amato, James Rumball, Serge Levy, Aditya Rebbapragada, Mark Bailey, Liliana Carpico, Hélène Labelle, Jung-Kay Chiu and Norman B. Lieff and in the United States by Riemer & Braunstein LLP with a team that included Robert E. Paul, Jason S. DelMonico and Neil F. Petersen Jr.
General Electric Capital Corporation was represented in Canada by Michelle Laniel (financial services) of Blake, Cassels & Graydon LLP and in the United States by Hilary Jordon of Kilpatrick Stockton LLP.