Golfsmith Gets $150M Credit Line To Facilitate Merger

Law360, New York (August 30, 2012, 8:49 PM EDT) -- Golfsmith International, the biggest specialty golf retailer in the world, landed a $150 million senior secured credit facility to support the recent merger that created the company from two smaller, private equity-backed merchants, the loan agent announced Thursday.

GE Capital administered the credit line, which will provide working capital and help finance existing debt left over from the July merger of Canada's Golf Town and Austin, Texas-based Golfsmith International Holdings Inc., according to a statement from the administrative agent.

“The industry continues to be selective with...
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