Quiksilver Inc., the bankrupt surfwear retailer, is in talks with banks for a loan that would help finance its business after it exits bankruptcy, Bloomberg News reported yesterday. Bank of America Corp. and JPMorgan Chase & Co. are among lenders discussing an asset-backed credit line for the company. The revolving loan may be $125 million to $150 million, and the company may seek a term loan as well. Quiksilver, rooted in the seaside cultures of Australia and Southern California, filed for bankruptcy protection in September after years of struggling to compete against fast-fashion retailers like Hennes & Mauritz AB. At the time of the filing, it had about $826 million in total debt, which will be cut to less than $300 million under a restructuring plan that will hand control of the company to Oaktree Capital Management LP. Under the restructuring plan, Oaktree, which holds roughly 73 percent of the chain’s $279 million in senior notes, would own the company after swapping the debt and buying the remaining securities not sold in a rights offering to existing bondholders.
