Billabong repays

Rebuilding surfwear retailer Billabong has used $US300 million ($316 million) of a $US360 million funding package from its new private-equity partners, Centerbridge Partners and Oaktree Capital, to repay a bridging facility. The company also said it had agreed to sell its Canadian retail chain, West 49, to YM Inc for $C9 million ($9.1 million) to $C11 million.