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Surfwear retailer Billabong has used $US300 million of a $US360 million funding package from its new private equity owners, 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 up to $C11 million.

Surfwear retailer Billabong has used $US300 million of a $US360 million funding package from its new private equity owners, 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 up to $C11 million.

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