By  on March 4, 2016

Shares of Pacific Sunwear of California Inc. jumped 16.1 percent in late afternoon trading Friday after it was disclosed that the company has hired advisers to help it determine what to do with its debt load.

The teen retailer reportedly has hired investment bank Guggenheim Securities as financial adviser and FTI Consulting Inc. as its restructuring expert. The company has $160 million in debt that is due to mature later this year. The debt consists of a $100 million revolving loan with Wells Fargo Bank NA and a $60 million term loan backed by private equity firm Golden Gate Capital. Neither executives at Guggenheim nor FTI returned a request for comment. Officials at Pacific Sunwear could not be reached for comment.

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