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Reuters
Published
Dec 9, 2014
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Jack Wolfskin's loans fall in secondary market

By
Reuters
Published
Dec 9, 2014

LONDON, United Kingdom - Loans in German outdoor brand Jack Wolfskin have tumbled on Europe's secondary loan market following poor financial results, banking sources said on Wednesday.


Private equity firm Blackstone agreed to buy Jack Wolfskin in 2011 from Quadriga Capital and Barclays Private Equity backed with 485 million euros ($601.01 million) of debt, according to Thomson Reuters LPC data.

Jack Wolfskin's euro term loan B dropped around 9 points in a month and was quoted at 90.1 on December 8 from 99 on November 7, while its second lien dropped 13 points to 84.3 on December 8 from 97.3 on November 7, TRLPC data shows.

Blackstone held meetings with lenders last week to talk through the company's performance, which has suffered due to unseasonably good weather conditions that affected sales during October as people held off buying winter jackets and warm clothing, the sources said.

Blackstone declined to comment.

1 EUR = 0.79 GBP
 

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