Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Callaway Golf Co. > News item |
Callaway Golf plans $476 million term loan for Jack Wolfskin buy
By Sara Rosenberg
New York, Dec. 3 – Callaway Golf Co. plans on getting a $476 million term loan to fund its acquisition of Jack Wolfskin, according to an 8-K filed with the Securities and Exchange Commission on Friday.
Bank of America Merrill Lynch and J.P. Morgan Securities LLC provided the debt commitment.
Pro forma debt to EBITDA is around 2.9 times.
Under the agreement, Jack Wolfskin is being bought for €418 million, subject to certain purchase price adjustments.
Closing is expected in the first quarter of 2019, conditioned on regulatory approvals and other customary conditions.
Callaway Golf is a Carlsbad, Calif.-based manufacturer and seller of golf clubs and golf balls, and seller of bags, accessories and apparel in the golf and lifestyle categories. Jack Wolfskin is an Idstein, Germany-based outdoor apparel, footwear and equipment brand.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.