Billabong International to raise $149.9 million in private placement

Billabong International Limited has agreed to raise AUD200 million ($149.9 million) by issuing new shares at AUD7.5 ($5.62) each in an institutional entitlement offer. Billabong is an Australia-based manufacturer, distributor, wholesaler, and retailer of surf, skate, snow apparel, and accessories.

The offer price represents a 29% discount to the closing price of Billabong shares on May 13, 2009 and a 26% discount to the theoretical ex-rights price (TERP). The entitlement offer will be conducted on the basis of two new Billabong ordinary shares for every 11 existing Billabong ordinary shares.

http://www.tradingmarkets.com/.site/news/Stock%20News/2333012/

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Since 1999, the founders of PPM have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.

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