Billabong International Limited (ASX:BBG)’s new lenders, the U.S. hedge funds, have hired global investment bank Moelis & Co as an advisor, according to The Wall Street Journal.
The U.S. hedge funds Centerbridge Partners and Oaktree Capital Management have taken control of the entire surfwear retailer Billabong International loans.
Gillian Tan in the blog at The Wall Street Journal notes Oaktree Capital Management and Centerbridge Partners have bought at least $280 million Australian Dollars (US$256 million) of senior loans from the surfwear retailer’s syndicate of banks, at a discount of 10 percent or more.
Leading...
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