By and  on June 9, 2009

Quiksilver Inc. on Monday simplified its finances and organizational structure as it returned to profitability in the second quarter.

The embattled firm, seeking to extract itself from the problematic purchase and subsequent sale of Rossignol, struck an agreement with private equity firm Rhône to take a five-year secured term loan of about $150 million to improve its liquidity position and refinanced its credit facility with a new three-year, $200 million asset-based line with Bank of America and GE Capital as joint lead arrangers. Additionally, it’s in negotiations with its French banks to consolidate European debts into a new committed multiyear facility.

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