Reuters - Australia's Billabong Attracts Debt Players
US hedge fund Coastal Capital joined debt specialists circling Billabong International Ltd seeking a board spill, as rival investors eye the proceeds from a potential debt restructure rather than equity from a long-term turnaround, writes Reuters. Billabong's shares jumped 14 percent to A$0.48 ($0.43) after shareholder Coastal said it wanted to ditch and replace the majority of the board as well amend the company's constitution for member approval of future debt and equity financing arrangements, writes Reuters.
2 September 2013•3 mins read
